Sumitomo Mitsui Trust Group Inc. increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,692 shares of the real estate investment trust's stock after purchasing an additional 35,084 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.12% of CareTrust REIT worth $5,483,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased its position in shares of CareTrust REIT by 16.8% in 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 in the last quarter. Quantinno Capital Management LP increased its position 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 worth $528,000 after acquiring an additional 533 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock worth $4,678,000 after acquiring an additional 544 shares in the last quarter. Blue Trust Inc. increased its position in shares of CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 603 shares in the last quarter. Finally, Pitcairn Co. increased its position in shares of CareTrust REIT by 5.3% in the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust's stock worth $415,000 after acquiring an additional 671 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.
CareTrust REIT Stock Down 0.4 %
CTRE traded down $0.10 on Monday, reaching $26.43. 1,792,844 shares of the company traded hands, compared to its average volume of 1,339,118. The stock's 50 day moving average price is $26.98 and its 200-day moving average price is $28.93. CareTrust REIT, Inc. has a 52-week low of $22.42 and a 52-week high of $33.15. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 1.24 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.
CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its 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 return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.
CareTrust REIT Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT's dividend payout ratio is 161.11%.
Analyst Upgrades and Downgrades
CTRE has been the topic of a number of research analyst reports. BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush downgraded shares of CareTrust REIT from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of "Hold" and an average price target of $30.67.
Get Our Latest Report on CareTrust REIT
About CareTrust REIT
(
Free Report)
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.
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