Yousif Capital Management LLC Has $1.93 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Yousif Capital Management LLC increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,194 shares of the real estate investment trust’s stock after buying an additional 11,734 shares during the period. Yousif Capital Management LLC’s holdings in CareTrust REIT were worth $1,926,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after buying an additional 5,448,904 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in CareTrust REIT by 22.4% during the third quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock valued at $13,264,000 after purchasing an additional 78,560 shares during the last quarter. Raymond James & Associates grew its holdings in CareTrust REIT by 10.6% during the third quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock valued at $21,138,000 after purchasing an additional 65,756 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CareTrust REIT during the third quarter valued at approximately $7,475,000. Finally, Principal Financial Group Inc. grew its holdings in CareTrust REIT by 5.2% during the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after purchasing an additional 41,623 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

CTRE has been the topic of several analyst reports. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.67.

CareTrust REIT Stock Down 1.3 %

Shares of CTRE stock opened at $25.76 on Wednesday. The stock has a market cap of $4.42 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. CareTrust REIT, Inc. has a one year low of $22.27 and a one year high of $33.15. The stock has a fifty day moving average price of $27.22 and a 200 day moving average price of $28.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.50%. 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.