243,400 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by one8zero8 LLC

one8zero8 LLC bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 243,400 shares of the real estate investment trust's stock, valued at approximately $6,584,000. CareTrust REIT accounts for 1.4% of one8zero8 LLC's holdings, making the stock its 15th biggest position. one8zero8 LLC owned 0.14% of CareTrust REIT as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. JPMorgan Chase & Co. raised its stake in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after purchasing an additional 5,448,904 shares during the period. FMR LLC grew its holdings in CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CareTrust REIT during the 4th quarter worth $49,048,000. Heitman Real Estate Securities LLC acquired a new position in CareTrust REIT in the 3rd quarter worth $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CareTrust REIT by 344.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust's stock valued at $29,364,000 after buying an additional 737,236 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

CTRE has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Wedbush reaffirmed an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. BMO Capital Markets cut 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. Finally, Royal Bank of Canada decreased their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company 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 stock. Based on data from MarketBeat, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE traded down $0.15 on Thursday, reaching $28.99. 1,589,183 shares of the company's stock were exchanged, compared to its average volume of 1,836,468. The business's 50-day moving average is $26.56 and its two-hundred day moving average is $28.65. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 quarter in the prior year, the company posted $0.25 EPS. As a group, equities research analysts forecast 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.62%. CareTrust REIT's dividend payout ratio (DPR) is 146.84%.

CareTrust REIT Company 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.