New Age Alpha Advisors LLC Takes Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

New Age Alpha Advisors LLC bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 267,415 shares of the real estate investment trust's stock, valued at approximately $7,234,000. New Age Alpha Advisors LLC owned 0.16% of CareTrust REIT as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Advantage Trust Co purchased a new position in shares of CareTrust REIT in the fourth quarter worth about $30,000. Versant Capital Management Inc boosted its holdings in CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after buying an additional 743 shares during the period. Blue Trust Inc. grew its stake in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 603 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 1,990 shares during the period. Finally, Signaturefd LLC lifted its position in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

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CareTrust REIT Trading Down 0.4 %

Shares of NASDAQ CTRE traded down $0.11 during mid-day trading on Tuesday, hitting $28.48. The stock had a trading volume of 560,076 shares, compared to its average volume of 1,711,305. The business has a 50 day moving average price of $26.90 and a two-hundred day moving average price of $28.57. CareTrust REIT, Inc. has a 1 year low of $23.26 and a 1 year high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market cap of $5.34 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 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 prior year, the company posted $0.25 EPS. On average, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.71%. 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%.

Analyst Ratings Changes

CTRE has been the subject of several recent research reports. Wells Fargo & Company reduced 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. Wedbush reiterated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Royal Bank of Canada cut 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 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 target price on the stock in a report on Thursday, March 13th. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT has an average rating of "Moderate Buy" and an average 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.