Mutual of America Capital Management LLC Boosts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Mutual of America Capital Management LLC grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,374 shares of the real estate investment trust’s stock after acquiring an additional 5,181 shares during the period. Mutual of America Capital Management LLC’s holdings in CareTrust REIT were worth $768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Advantage Trust Co bought a new position in CareTrust REIT during the 4th quarter valued at $30,000. Versant Capital Management Inc raised its stake in shares of CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 743 shares in the last quarter. Blue Trust Inc. lifted its position in shares of CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in CareTrust REIT by 5,527.8% in the third 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. Finally, FSA Wealth Management LLC bought a new stake in CareTrust REIT in the third quarter valued at about $80,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CTRE shares. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada decreased their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, CareTrust REIT has an average rating of “Hold” and an average target price of $30.83.

CareTrust REIT Stock Up 1.4 %

Shares of CareTrust REIT stock opened at $25.87 on Monday. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a twelve month low of $23.10 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 business’s 50 day simple moving average is $26.41 and its 200-day simple moving average is $28.74.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results 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 return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the business earned $0.25 earnings per share. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s payout ratio is 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.