Marshall Wace LLP Sells 1,811,142 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Marshall Wace LLP trimmed its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 81.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 422,314 shares of the real estate investment trust's stock after selling 1,811,142 shares during the quarter. Marshall Wace LLP owned approximately 0.25% of CareTrust REIT worth $11,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRE. JPMorgan Chase & Co. grew its position in shares of CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after buying an additional 5,448,904 shares during the period. Vanguard Group Inc. raised its position in shares of CareTrust REIT by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after acquiring an additional 4,263,097 shares during the last quarter. FMR LLC lifted its stake in shares of CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after purchasing an additional 2,708,050 shares during the period. Raymond James Financial Inc. bought a new position in shares of CareTrust REIT in the 4th quarter worth $49,048,000. Finally, Norges Bank acquired a new stake in shares of CareTrust REIT during the fourth quarter worth $33,180,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Down 2.2 %

CTRE opened at $28.11 on Tuesday. The stock has a market capitalization of $5.28 billion, a P/E ratio of 35.58, a P/E/G ratio of 1.25 and a beta of 0.88. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12 month low of $23.26 and a 12 month high of $33.15. The firm's fifty day simple moving average is $27.37 and its 200 day simple moving average is $28.25.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the firm earned $0.25 EPS. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently announced 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. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.77%. CareTrust REIT's dividend payout ratio is presently 169.62%.

Analyst Ratings Changes

A number of analysts have recently commented on CTRE shares. 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 research note on Monday, March 10th. Royal Bank of Canada cut their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research report on Thursday, March 13th. Finally, Wedbush reaffirmed an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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.

Want to see what other hedge funds are holding CTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.