Corient Private Wealth LLC Has $608,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Corient Private Wealth LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,481 shares of the real estate investment trust’s stock after buying an additional 1,903 shares during the quarter. Corient Private Wealth LLC’s holdings in CareTrust REIT were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CTRE. WealthShield Partners LLC lifted its holdings in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after acquiring an additional 490 shares during the period. Quantinno Capital Management LP grew its position in CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 533 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 534 shares in the last quarter. Blue Trust Inc. raised its position in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in CareTrust REIT by 98.8% in the fourth 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. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Up 1.2 %

Shares of NASDAQ CTRE opened at $28.90 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The firm has a market capitalization of $5.42 billion, a P/E ratio of 36.58, a P/E/G ratio of 1.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company’s 50 day simple moving average is $26.86 and its 200 day simple moving average is $28.61.

CareTrust REIT (NASDAQ:CTRE) last posted 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 period last year, the business earned $0.25 EPS. On average, analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio (DPR) is presently 169.62%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTRE shares. Royal Bank of Canada lowered their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Wedbush restated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company reduced their price objective on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.