Invesco Ltd. Buys 268,971 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Invesco Ltd. increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,275,644 shares of the real estate investment trust's stock after purchasing an additional 268,971 shares during the quarter. Invesco Ltd. owned approximately 0.74% of CareTrust REIT worth $34,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CTRE. Advantage Trust Co purchased a new position in CareTrust REIT during the fourth quarter valued at $30,000. Versant Capital Management Inc lifted its position in CareTrust REIT by 98.8% during the 4th 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 period. Blue Trust Inc. boosted its stake in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 603 shares in the last quarter. Signaturefd LLC boosted its stake in 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 acquiring an additional 443 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in CareTrust REIT by 24.4% in the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock worth $109,000 after purchasing an additional 790 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

CareTrust REIT Price Performance

CareTrust REIT stock traded up $0.33 during midday trading on Tuesday, reaching $28.39. 2,393,076 shares of the stock traded hands, compared to its average volume of 1,776,213. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12 month low of $23.58 and a 12 month high of $33.15. The stock's fifty day moving average is $27.41 and its 200-day moving average is $28.25. The stock has a market cap of $5.33 billion, a P/E ratio of 35.94, a PEG ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates 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 previous year, the business earned $0.25 earnings per share. As a group, equities research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.335 per share. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.72%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is presently 169.62%.

CareTrust REIT Company 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.