CareTrust REIT, Inc. (NASDAQ:CTRE) Holdings Lifted by Martingale Asset Management L P

Martingale Asset Management L P grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 396.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,158 shares of the real estate investment trust's stock after acquiring an additional 100,757 shares during the quarter. Martingale Asset Management L P owned about 0.07% of CareTrust REIT worth $3,413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTRE. Walleye Capital LLC acquired a new stake in shares of CareTrust REIT during the third quarter valued at about $223,000. Quantinno Capital Management LP boosted its position in shares of CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock worth $528,000 after purchasing an additional 533 shares during the period. State Street Corp increased its holdings in CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust's stock valued at $259,255,000 after purchasing an additional 520,783 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in CareTrust REIT by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 208,800 shares of the real estate investment trust's stock valued at $6,444,000 after purchasing an additional 12,940 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in CareTrust REIT by 9.5% during the third quarter. Public Employees Retirement System of Ohio now owns 220,510 shares of the real estate investment trust's stock worth $6,805,000 after purchasing an additional 19,080 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts have recently issued reports on CTRE shares. 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. Wells Fargo & Company cut their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Wedbush reiterated an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Royal Bank of Canada cut their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One 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 MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Price Performance

Shares of CTRE traded down $0.03 during mid-day trading on Tuesday, reaching $28.22. 287,716 shares of the company's stock were exchanged, compared to its average volume of 1,755,128. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15. 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 company has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $28.33. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 1.25 and a beta of 0.88.

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 (EPS) 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 last year, the business earned $0.25 earnings per share. On average, sell-side analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.75%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT's 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.