Sei Investments Co. Raises Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Sei Investments Co. grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383,461 shares of the real estate investment trust's stock after acquiring an additional 47,282 shares during the quarter. Sei Investments Co. owned about 0.22% of CareTrust REIT worth $10,373,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CTRE. JPMorgan Chase & Co. raised its stake in CareTrust REIT by 381.2% in 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 in the last quarter. FMR LLC raised its position in shares of 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 buying an additional 3,538,798 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CareTrust REIT during the 4th quarter valued at $49,048,000. Heitman Real Estate Securities LLC bought a new stake in shares of CareTrust REIT during the 3rd quarter worth $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CareTrust REIT by 344.0% in the third 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 worth $29,364,000 after acquiring an additional 737,236 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

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Wall Street Analysts Forecast Growth

CTRE has been the subject of several research analyst reports. BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wells Fargo & Company decreased their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised 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. Royal Bank of Canada decreased their price target on shares of 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, Wedbush reaffirmed an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Trading Up 1.0 %

CTRE stock traded up $0.27 during midday trading on Thursday, hitting $28.82. The company had a trading volume of 3,256,648 shares, compared to its average volume of 1,727,930. 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. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 1.25 and a beta of 0.88. The stock's 50 day moving average price is $27.00 and its 200 day moving average price is $28.56.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 previous year, the firm posted $0.25 EPS. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.65%. CareTrust REIT's dividend payout ratio is presently 169.62%.

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.