United Services Automobile Association Takes $298,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

United Services Automobile Association bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,002 shares of the real estate investment trust's stock, valued at approximately $298,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 443 shares during the period. WealthShield Partners LLC raised its position in CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock valued at $1,343,000 after purchasing an additional 490 shares in the last quarter. Quantinno Capital Management LP lifted its stake in CareTrust REIT by 3.2% during the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock worth $528,000 after purchasing an additional 533 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 534 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings 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 valued at $49,000 after purchasing an additional 603 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Remove Ads

CareTrust REIT Trading Up 0.6 %

CareTrust REIT stock traded up $0.18 during trading hours on Friday, reaching $28.74. 260,801 shares of the company's stock were exchanged, compared to its average volume of 1,710,949. The firm's 50 day simple moving average is $26.82 and its 200 day simple moving average is $28.62. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The firm has a market capitalization of $5.39 billion, a PE ratio of 36.38, a PEG ratio of 1.25 and a beta of 1.11. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

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 analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter last year, the firm earned $0.25 earnings per share. Research analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTRE. Wedbush reiterated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Royal Bank of Canada lowered 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. BMO Capital Markets downgraded CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. 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 report on Thursday, March 13th. Finally, Wells Fargo & Company dropped their target price 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

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.