Tidal Investments LLC Takes $576,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Tidal Investments LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 18,672 shares of the real estate investment trust's stock, valued at approximately $576,000.

Several other large investors also recently modified their holdings of CTRE. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC bought a new stake in CareTrust REIT in the 2nd quarter valued at $34,000. Blue Trust Inc. boosted its position in CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 772 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of CareTrust REIT in the second quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P lifted its position in shares of CareTrust REIT by 5,527.8% in 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 purchasing an additional 1,990 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, KeyCorp increased their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CareTrust REIT has a consensus rating of "Moderate Buy" and a consensus target price of $30.67.

CareTrust REIT Price Performance

CTRE stock traded down $0.14 during mid-day trading on Monday, hitting $27.22. The stock had a trading volume of 1,701,620 shares, compared to its average volume of 1,638,858. The firm has a fifty day simple moving average of $30.04 and a 200 day simple moving average of $28.69. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.67 billion, a P/E ratio of 37.81, a P/E/G ratio of 1.59 and a beta of 1.08.

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

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.26%. CareTrust REIT's dividend payout ratio (DPR) is currently 161.11%.

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.