Sterling Capital Management LLC Acquires 21,276 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Sterling Capital Management LLC raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 4,585.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,740 shares of the real estate investment trust's stock after purchasing an additional 21,276 shares during the quarter. Sterling Capital Management LLC's holdings in CareTrust REIT were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Advantage Trust Co bought a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc increased its position in shares of CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 743 shares during the period. Blue Trust Inc. raised its stake in shares of CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after buying an additional 603 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 443 shares during the period. Finally, GAMMA Investing LLC boosted its stake in CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after buying an additional 790 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

CTRE has been the subject of a number of research analyst reports. Royal Bank of Canada cut 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 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. 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 research report on Monday, March 10th. Finally, Wedbush reissued an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Down 0.5 %

CTRE traded down $0.13 on Wednesday, reaching $28.40. 125,256 shares of the company traded hands, compared to its average volume of 1,769,729. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.25 and a beta of 0.88. 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 stock's 50 day moving average price is $27.41 and its 200-day moving average price is $28.25. CareTrust REIT, Inc. has a 52-week low of $23.58 and a 52-week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS 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 earned $0.25 EPS. On average, sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.72%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. CareTrust REIT's payout ratio is currently 169.62%.

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.