CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 167.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 155,398 shares of the real estate investment trust's stock after purchasing an additional 97,333 shares during the period. Franklin Resources Inc. owned about 0.09% of CareTrust REIT worth $4,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC raised its holdings in CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares in the last quarter. WealthShield Partners LLC raised its stake in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after acquiring an additional 490 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock worth $528,000 after acquiring an additional 533 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after acquiring an additional 534 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after acquiring an additional 601 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

CTRE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research report on Thursday, March 13th. Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Wells Fargo & Company lowered their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Stock Performance

CareTrust REIT stock traded up $0.13 during trading hours on Tuesday, hitting $28.38. 1,260,691 shares of the stock traded hands, compared to its average volume of 1,759,186. CareTrust REIT, Inc. has a 1 year low of $23.26 and a 1 year high of $33.15. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 1.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm's 50 day moving average price is $27.12 and its 200-day moving average price is $28.33.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.72%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT's dividend payout ratio is presently 169.62%.

CareTrust REIT Profile

CareTrust REIT, Inc's (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.