Magnetar Financial LLC Makes New $1.65 Million Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Magnetar Financial LLC acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,147 shares of the real estate investment trust's stock, valued at approximately $1,654,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 443 shares in the last quarter. WealthShield Partners LLC grew its position in CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 490 shares during the period. Quantinno Capital Management LP increased its holdings in CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock valued at $528,000 after buying an additional 533 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of CareTrust REIT by 4.9% during the 4th 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 period. Finally, Blue Trust Inc. boosted its stake in shares of CareTrust REIT by 50.0% during the 4th 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. Institutional investors and hedge funds own 87.77% of the company's stock.

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CareTrust REIT Trading Down 0.5 %

Shares of NASDAQ:CTRE traded down $0.15 during trading on Tuesday, reaching $28.85. The stock had a trading volume of 998,191 shares, compared to its average volume of 1,620,399. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.41 billion, a P/E ratio of 36.52, a PEG ratio of 1.25 and a beta of 1.11. The business has a fifty day moving average price of $26.71 and a 200-day moving average price of $28.62. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15.

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 net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the company earned $0.25 earnings per share. As a group, analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share 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 paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.64%. 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 (DPR) is presently 169.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CTRE shares. Royal Bank of Canada reduced 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 note on Thursday, March 13th. Wedbush reissued an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company 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 data from MarketBeat, CareTrust REIT has a consensus rating of "Moderate Buy" and an average target price of $31.00.

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.