Russell Investments Group Ltd. Increases Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Russell Investments Group Ltd. boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,794,392 shares of the real estate investment trust's stock after buying an additional 65,579 shares during the period. Russell Investments Group Ltd. owned approximately 1.05% of CareTrust REIT worth $48,538,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC increased its holdings 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 buying an additional 443 shares in the last quarter. WealthShield Partners LLC grew its position in shares of CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock valued at $1,343,000 after buying an additional 490 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock valued at $528,000 after buying an additional 533 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after acquiring an additional 534 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after acquiring an additional 601 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

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CareTrust REIT Stock Performance

Shares of CTRE stock traded up $0.37 during trading hours on Friday, hitting $28.04. 1,534,135 shares of the company were exchanged, compared to its average volume of 1,758,575. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 1.25 and a beta of 0.88. The firm has a fifty day simple moving average of $27.09 and a 200 day simple moving average of $28.36. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 quarter in the prior year, the firm posted $0.25 EPS. Research analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently announced 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 a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio is currently 169.62%.

Wall Street Analyst Weigh In

CTRE has been the subject of several analyst reports. Royal Bank of Canada lowered their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company decreased their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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.