Sound Income Strategies LLC Acquires 47,292 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Sound Income Strategies LLC increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,096 shares of the real estate investment trust's stock after purchasing an additional 47,292 shares during the period. Sound Income Strategies LLC owned 0.27% of CareTrust REIT worth $12,500,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its position in shares of CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 467 shares during the last quarter. Quantinno Capital Management LP lifted its position in CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock valued at $528,000 after purchasing an additional 533 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of CareTrust REIT by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock valued at $4,678,000 after purchasing an additional 544 shares during the last quarter. Pitcairn Co. grew its position in shares of CareTrust REIT by 5.3% during the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust's stock worth $415,000 after buying an additional 671 shares during the period. Finally, US Bancorp DE raised its stake in shares of CareTrust REIT by 6.2% during the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust's stock worth $364,000 after buying an additional 692 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wedbush cut shares of CareTrust REIT from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. KeyCorp lifted their price objective on CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $30.67.

CareTrust REIT Trading Up 0.9 %

NASDAQ:CTRE traded up $0.23 on Friday, reaching $26.93. The company's stock had a trading volume of 788,386 shares, compared to its average volume of 1,476,670. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. The business's 50-day moving average price is $28.20 and its two-hundred day moving average price is $28.92. The firm has a market cap of $4.62 billion, a PE ratio of 37.40, a PEG ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.31%. CareTrust REIT's payout ratio is 161.11%.

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.