Royal London Asset Management Ltd. Has $25.72 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Royal London Asset Management Ltd. boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 37.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 950,977 shares of the real estate investment trust's stock after buying an additional 259,902 shares during the period. Royal London Asset Management Ltd. owned approximately 0.55% of CareTrust REIT worth $25,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of CareTrust REIT by 381.2% in the 3rd 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 increased its stake in CareTrust REIT by 209.9% in 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 buying an additional 3,538,798 shares during the period. Raymond James Financial Inc. purchased a new stake in CareTrust REIT in the 4th quarter worth approximately $49,048,000. Heitman Real Estate Securities LLC acquired a new stake in shares of CareTrust REIT during the 3rd quarter valued at $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CareTrust REIT by 344.0% during 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 acquiring an additional 737,236 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded down $0.16 during trading on Wednesday, reaching $28.67. The company's stock had a trading volume of 1,063,071 shares, compared to its average volume of 1,618,262. The business's fifty day moving average price is $26.75 and its 200-day moving average price is $28.62. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

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

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.335 per share. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.67%. CareTrust REIT's payout ratio is presently 169.62%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTRE shares. Wells Fargo & Company cut their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. BMO Capital Markets cut CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush restated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada cut their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.00.

About CareTrust REIT

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.