Intech Investment Management LLC Purchases 113,515 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Intech Investment Management LLC grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 251.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 158,642 shares of the real estate investment trust's stock after buying an additional 113,515 shares during the period. Intech Investment Management LLC owned approximately 0.09% of CareTrust REIT worth $4,291,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Advantage Trust Co purchased a new stake in CareTrust REIT during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc lifted its position in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 743 shares during the last quarter. Blue Trust Inc. raised its stake in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 603 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of CareTrust REIT by 20.3% during 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 during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

CTRE has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Wells Fargo & Company lowered their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Wedbush restated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded down $0.29 during trading on Friday, hitting $28.70. 3,150,421 shares of the stock were exchanged, compared to its average volume of 1,621,715. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. The company has a fifty day moving average price of $26.66 and a 200-day moving average price of $28.64. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11.

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

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.67%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is currently 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.