Knights of Columbus Asset Advisors LLC Sells 19,579 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Knights of Columbus Asset Advisors LLC lowered its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,065 shares of the real estate investment trust's stock after selling 19,579 shares during the period. Knights of Columbus Asset Advisors LLC owned 0.06% of CareTrust REIT worth $2,869,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Advantage Trust Co bought a new stake in CareTrust REIT during the 4th quarter valued at $30,000. Versant Capital Management Inc grew its holdings in shares of 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 buying an additional 743 shares during the last quarter. Blue Trust Inc. increased its position in shares of 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. Loomis Sayles & Co. L P increased its position in shares of CareTrust REIT by 5,527.8% during 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 acquiring an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of CareTrust REIT in the 3rd quarter worth about $80,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada decreased their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. Wedbush reaffirmed an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One equities 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.com, CareTrust REIT has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded down $0.10 during trading hours on Thursday, hitting $28.60. 1,681,123 shares of the company's stock traded hands, compared to its average volume of 1,619,837. The company has a fifty day simple moving average of $26.82 and a 200-day simple moving average of $28.62. 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 stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 4.69%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio is 169.62%.

About CareTrust REIT

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.