Mirabella Financial Services LLP Takes $1.07 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Mirabella Financial Services LLP bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 39,612 shares of the real estate investment trust's stock, valued at approximately $1,070,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Advantage Trust Co purchased a new stake in shares of CareTrust REIT during the fourth quarter valued at approximately $30,000. Versant Capital Management Inc raised its stake 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 buying an additional 743 shares during the last quarter. Blue Trust Inc. increased its position in 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 valued at $49,000 after acquiring an additional 603 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of 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 buying an additional 443 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CareTrust REIT by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after acquiring an additional 790 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Down 0.2 %

Shares of NASDAQ CTRE traded down $0.06 during midday trading on Friday, hitting $28.10. The company's stock had a trading volume of 583,440 shares, compared to its average volume of 1,804,510. The business's 50 day moving average is $27.48 and its two-hundred day moving average is $28.24. The firm has a market cap of $5.27 billion, a P/E ratio of 35.57, a price-to-earnings-growth 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 $23.92 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced 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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.335 dividend. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.77%. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a report on Thursday, March 13th. Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Wells Fargo & Company decreased their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Royal Bank of Canada dropped their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, CareTrust REIT has an average rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT 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.