Jane Street Group LLC Cuts Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Jane Street Group LLC trimmed its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 77.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,018 shares of the real estate investment trust’s stock after selling 261,224 shares during the period. Jane Street Group LLC’s holdings in CareTrust REIT were worth $2,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRE. FMR LLC raised its stake in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of CareTrust REIT during the 3rd quarter valued at about $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CareTrust REIT by 344.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock valued at $29,364,000 after acquiring an additional 737,236 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after acquiring an additional 670,348 shares during the last quarter. Finally, State Street Corp grew its position in CareTrust REIT by 6.7% in the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock worth $259,255,000 after acquiring an additional 520,783 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $27.22 on Tuesday. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The company has a market capitalization of $4.67 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. The stock’s fifty day moving average is $30.04 and its two-hundred day moving average is $28.69. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the prior year, the business earned $0.35 EPS. As a group, analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.26%. CareTrust REIT’s dividend payout ratio (DPR) is currently 161.11%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp raised their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets cut shares of 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 research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.67.

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.