William Blair Investment Management LLC Increases Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

William Blair Investment Management LLC grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,567,009 shares of the real estate investment trust's stock after acquiring an additional 37,963 shares during the quarter. William Blair Investment Management LLC owned about 0.91% of CareTrust REIT worth $42,388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CTRE. Sumitomo Mitsui Trust Group Inc. lifted its stake in CareTrust REIT by 6.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 167,608 shares of the real estate investment trust's stock worth $5,172,000 after purchasing an additional 10,460 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of CareTrust REIT by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust's stock worth $25,784,000 after acquiring an additional 56,015 shares during the last quarter. KBC Group NV boosted its holdings in CareTrust REIT by 32.6% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the real estate investment trust's stock valued at $109,000 after acquiring an additional 869 shares during the period. Metis Global Partners LLC grew its position in CareTrust REIT by 40.7% in the 3rd quarter. Metis Global Partners LLC now owns 15,878 shares of the real estate investment trust's stock valued at $490,000 after acquiring an additional 4,597 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in CareTrust REIT in the third quarter worth $238,000. Institutional investors own 87.77% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Down 1.0 %

CareTrust REIT stock traded down $0.29 during mid-day trading on Friday, reaching $28.70. 3,022,076 shares of the company were exchanged, compared to its average volume of 1,619,769. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The business has a fifty day moving average of $26.60 and a 200 day moving average of $28.65. The firm has a market cap of $5.39 billion, a P/E ratio of 36.33, a PEG ratio of 1.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the prior year, the company posted $0.25 EPS. Research analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is 146.84%.

CareTrust REIT 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.