Moody National Bank Trust Division Makes New $621,000 Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Moody National Bank Trust Division purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,970 shares of the real estate investment trust's stock, valued at approximately $621,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of CareTrust REIT in the second quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings in CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 772 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 acquiring an additional 743 shares during the period. Quest Partners LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth $40,000. Finally, Loomis Sayles & Co. L P increased its position in shares of CareTrust REIT by 5,527.8% in 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 purchasing an additional 1,990 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTRE shares. Wedbush cut shares of CareTrust REIT from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. KeyCorp upped their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets cut 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 note on Monday, December 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of "Hold" and a consensus price target of $30.67.

CareTrust REIT Price Performance

Shares of CTRE traded up $0.26 during mid-day trading on Wednesday, reaching $26.84. The company had a trading volume of 1,015,439 shares, compared to its average volume of 1,598,304. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 37.28, a P/E/G ratio of 1.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company's 50 day simple moving average is $28.58 and its 200 day simple moving average is $28.87. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the previous year, the firm posted $0.35 EPS. Analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.32%. CareTrust REIT's payout ratio is presently 161.11%.

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.