CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 146.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,567 shares of the real estate investment trust’s stock after buying an additional 8,053 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CareTrust REIT were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in CareTrust REIT by 19.7% during the fourth quarter. Yousif Capital Management LLC now owns 71,194 shares of the real estate investment trust’s stock worth $1,926,000 after buying an additional 11,734 shares in the last quarter. abrdn plc boosted its stake in shares of CareTrust REIT by 110.3% during the 4th quarter. abrdn plc now owns 59,143 shares of the real estate investment trust’s stock worth $1,585,000 after acquiring an additional 31,018 shares in the last quarter. Golden State Equity Partners grew its holdings in shares of CareTrust REIT by 449.6% in the 4th quarter. Golden State Equity Partners now owns 38,872 shares of the real estate investment trust’s stock worth $1,051,000 after acquiring an additional 31,799 shares during the last quarter. Milestone Asset Management LLC grew its holdings in shares of CareTrust REIT by 3.5% in the 4th quarter. Milestone Asset Management LLC now owns 31,910 shares of the real estate investment trust’s stock worth $863,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Valicenti Advisory Services Inc. raised its position in shares of CareTrust REIT by 3.7% during the fourth quarter. Valicenti Advisory Services Inc. now owns 31,390 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 1,125 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 3.9 %

CareTrust REIT stock opened at $26.57 on Friday. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a 1-year low of $22.42 and a 1-year high of $33.15. The firm’s fifty day simple moving average is $27.14 and its 200-day simple moving average is $28.93. The company has a market capitalization of $4.55 billion, a P/E ratio of 36.90, a P/E/G ratio of 1.24 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last released 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 net margin of 36.88% and a return on equity of 5.32%. During the same quarter in the prior year, the business posted $0.25 earnings per share. Sell-side analysts forecast that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.37%. CareTrust REIT’s payout ratio is 161.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTRE. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.67.

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.