CareTrust REIT, Inc. (NASDAQ:CTRE) Holdings Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,798,055 shares of the real estate investment trust's stock after acquiring an additional 670,348 shares during the period. Wellington Management Group LLP owned 7.46% of CareTrust REIT worth $394,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. purchased a new stake in CareTrust REIT in the 2nd quarter valued at $27,000. Rothschild Investment LLC purchased a new stake in shares of CareTrust REIT in the second quarter valued at about $34,000. Blue Trust Inc. raised its holdings in shares of CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 772 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of CareTrust REIT during the second quarter worth about $40,000. Finally, GAMMA Investing LLC grew its holdings in shares of CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,143 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

CareTrust REIT stock traded down $0.09 during midday trading on Friday, reaching $29.34. The company's stock had a trading volume of 1,610,221 shares, compared to its average volume of 1,841,176. 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, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The stock's 50 day simple moving average is $30.53 and its 200 day simple moving average is $28.47. The firm has a market capitalization of $5.03 billion, a PE ratio of 40.75 and a beta of 1.07.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its earnings results 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). The company had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period last year, the company posted $0.35 earnings per share. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Monday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is 161.11%.

Analysts Set New Price Targets

Several research firms have commented on CTRE. Wells Fargo & Company raised CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp increased their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Finally, BMO Capital Markets lifted their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.