Wealth Enhancement Advisory Services LLC Acquires New Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Wealth Enhancement Advisory Services LLC acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,371 shares of the real estate investment trust’s stock, valued at approximately $199,000.

Other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of CareTrust REIT by 12.3% during the second quarter. Commonwealth Equity Services LLC now owns 12,596 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 1,375 shares during the period. Envestnet Asset Management Inc. boosted its holdings in CareTrust REIT by 67.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 152,787 shares of the real estate investment trust’s stock valued at $3,835,000 after purchasing an additional 61,512 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CareTrust REIT by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after purchasing an additional 281,120 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of CareTrust REIT by 42.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,322 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 4,551 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of CareTrust REIT by 5.5% in the 2nd quarter. Amalgamated Bank now owns 43,108 shares of the real estate investment trust’s stock valued at $1,082,000 after buying an additional 2,228 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTRE. KeyCorp upped their price objective on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.67.

CareTrust REIT Stock Down 1.5 %

CareTrust REIT stock opened at $26.80 on Friday. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 1.23 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The stock’s fifty day moving average is $28.43 and its two-hundred day moving average is $28.87.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same quarter last year, the business posted $0.35 earnings per share. Analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s payout ratio is currently 161.11%.

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.