CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 43.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,171 shares of the real estate investment trust’s stock after acquiring an additional 10,655 shares during the period. Van ECK Associates Corp’s holdings in CareTrust REIT were worth $951,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CTRE. CWM LLC increased its holdings in shares of CareTrust REIT by 16.8% in the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 467 shares during the period. Creative Planning increased its holdings in shares of CareTrust REIT by 76.6% in the 3rd quarter. Creative Planning now owns 62,378 shares of the real estate investment trust’s stock worth $1,925,000 after acquiring an additional 27,048 shares during the period. Blue Trust Inc. increased its stake in CareTrust REIT by 178.3% during the 3rd 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 during the period. Raymond James & Associates increased its stake in CareTrust REIT by 10.6% during the 3rd 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 during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in CareTrust REIT by 31.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,465 shares of the real estate investment trust’s stock valued at $1,187,000 after buying an additional 9,238 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $24.90 on Friday. CareTrust REIT, Inc. has a twelve month low of $22.46 and a twelve month high of $33.15. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $26.73 and a 200-day moving average of $28.86. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $0.25 EPS. Analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 4.66%. CareTrust REIT’s dividend payout ratio (DPR) is 146.84%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $34.00 to $32.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.83.

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.