Prudential Financial Inc. Has $64.81 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Prudential Financial Inc. lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,396,050 shares of the real estate investment trust's stock after buying an additional 190,982 shares during the period. Prudential Financial Inc. owned about 1.40% of CareTrust REIT worth $64,813,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CTRE. Swiss National Bank increased its holdings in CareTrust REIT by 4.4% in the 3rd quarter. Swiss National Bank now owns 277,349 shares of the real estate investment trust's stock worth $8,559,000 after purchasing an additional 11,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CareTrust REIT in the third quarter valued at approximately $1,110,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in CareTrust REIT in the 3rd quarter valued at approximately $7,475,000. Intech Investment Management LLC acquired a new stake in CareTrust REIT during the 3rd quarter worth approximately $1,393,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in CareTrust REIT during the 3rd quarter worth approximately $2,391,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several analyst reports. 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 note on Thursday, March 13th. Wells Fargo & Company cut their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Wedbush reissued an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $32.00 in a research 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 stock. According to data from MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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CareTrust REIT Trading Up 0.6 %

Shares of CareTrust REIT stock traded up $0.18 on Friday, hitting $28.74. 260,801 shares of the company's stock traded hands, compared to its average volume of 1,710,953. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The company has a fifty day moving average of $26.82 and a two-hundred day moving average of $28.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15.

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 EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.25 EPS. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.66%. The ex-dividend date is Monday, March 31st. CareTrust REIT's payout ratio is 169.62%.

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.