Rhumbline Advisers Acquires 121,328 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Rhumbline Advisers raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 572,664 shares of the real estate investment trust’s stock after purchasing an additional 121,328 shares during the period. Rhumbline Advisers owned approximately 0.33% of CareTrust REIT worth $15,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its position 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 worth $37,000 after purchasing an additional 772 shares in the last quarter. Versant Capital Management Inc increased its position in CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 743 shares in the last quarter. Loomis Sayles & Co. L P increased its position in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,990 shares in the last quarter. Signaturefd LLC increased its position in CareTrust REIT by 55.0% during the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 775 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in CareTrust REIT during the 3rd quarter worth approximately $80,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CTRE shares. Royal Bank of Canada decreased their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.83.

CareTrust REIT Trading Down 2.8 %

NASDAQ:CTRE opened at $24.90 on Friday. The firm’s fifty day moving average is $26.73 and its 200-day moving average is $28.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 52 week low of $22.46 and a 52 week high of $33.15. The firm has a market cap of $4.67 billion, a P/E ratio of 31.51, a P/E/G ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the business earned $0.25 EPS. Equities analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.66%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 146.84%.

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.