Segall Bryant & Hamill LLC Makes New $12.72 Million Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Segall Bryant & Hamill LLC bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 470,257 shares of the real estate investment trust's stock, valued at approximately $12,720,000. Segall Bryant & Hamill LLC owned 0.27% of CareTrust REIT as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRE. Advantage Trust Co acquired a new position in shares of CareTrust REIT in the 4th quarter valued at $30,000. Versant Capital Management Inc boosted its holdings in CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 743 shares during the last quarter. Blue Trust Inc. grew its position in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares during the period. Loomis Sayles & Co. L P increased its stake in CareTrust REIT by 5,527.8% during the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC increased its stake in 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 during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

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CareTrust REIT Stock Up 1.2 %

CTRE traded up $0.34 during trading hours on Friday, reaching $28.90. 996,212 shares of the stock traded hands, compared to its average volume of 1,717,266. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 1.25 and a beta of 1.11. The firm's fifty day simple moving average is $26.86 and its two-hundred day simple moving average is $28.59.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced 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 return on equity of 5.59% and a net margin of 42.22%. During the same period in the previous year, the business earned $0.25 EPS. As a group, analysts forecast 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT's dividend payout ratio is 169.62%.

Analyst Upgrades and Downgrades

CTRE has been the topic of several research analyst reports. Royal Bank of Canada reduced 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. Wedbush reiterated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Wells Fargo & Company cut their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded 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 lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $34.00 to $32.00 in a research report on Monday, December 9th. One equities research 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, the company presently has a consensus 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.