Allspring Global Investments Holdings LLC Boosts Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Allspring Global Investments Holdings LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 85.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,253 shares of the real estate investment trust’s stock after purchasing an additional 32,788 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CareTrust REIT were worth $1,890,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in CareTrust REIT by 16.8% in the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 467 shares in the last quarter. Creative Planning increased its holdings in CareTrust REIT by 76.6% in the third quarter. Creative Planning now owns 62,378 shares of the real estate investment trust’s stock valued at $1,925,000 after buying an additional 27,048 shares in the last quarter. Blue Trust Inc. increased its holdings in 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 in the last quarter. Raymond James & Associates increased its holdings in CareTrust REIT by 10.6% in 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 buying an additional 65,756 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 775 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada dropped their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wedbush lowered shares of 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 research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Hold” and a consensus target price of $30.83.

CareTrust REIT Stock Down 2.8 %

CTRE stock opened at $24.90 on Friday. CareTrust REIT, Inc. has a 12 month low of $22.46 and a 12 month high of $33.15. The company’s 50 day simple moving average is $26.73 and its 200-day simple moving average is $28.86. The firm has a market capitalization of $4.67 billion, a PE ratio of 31.51, a P/E/G ratio of 1.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter last year, the business posted $0.25 EPS. Equities analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

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 dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.66%. CareTrust REIT’s dividend payout ratio (DPR) is currently 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.