JPMorgan Chase & Co. Decreases Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

JPMorgan Chase & Co. reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 76.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,628,012 shares of the real estate investment trust's stock after selling 5,250,367 shares during the quarter. JPMorgan Chase & Co. owned 0.95% of CareTrust REIT worth $44,038,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Advantage Trust Co purchased a new stake in shares of CareTrust REIT in the fourth quarter worth approximately $30,000. Versant Capital Management Inc boosted its holdings 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. grew its position in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares during the last quarter. Signaturefd LLC increased its stake 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 during the period. Finally, GAMMA Investing LLC lifted its position in shares of CareTrust REIT by 24.4% during 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 last quarter. Institutional investors own 87.77% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently commented on CTRE. Wedbush reaffirmed an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada reduced their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. 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, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research note on Thursday, March 13th. One 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. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Stock Up 1.3 %

Shares of CTRE traded up $0.37 during mid-day trading on Friday, hitting $28.04. The company's stock had a trading volume of 1,534,135 shares, compared to its average volume of 1,758,573. 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 company's 50-day moving average is $27.09 and its 200-day moving average is $28.36. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 35.49, 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 return on equity of 5.59% and a net margin of 42.22%. During the same period in the previous year, the business posted $0.25 EPS. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 4.78%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) 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.