Inspire Investing LLC Boosts Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Inspire Investing LLC grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.4% in the 4th quarter, HoldingsChannel reports. The firm owned 14,848 shares of the real estate investment trust’s stock after acquiring an additional 1,522 shares during the quarter. Inspire Investing LLC’s holdings in CareTrust REIT were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in CareTrust REIT during the second quarter valued at about $27,000. Blue Trust Inc. increased its stake in shares of 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 during the last quarter. Versant Capital Management Inc raised its holdings 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 worth $40,000 after purchasing an additional 743 shares during the period. Loomis Sayles & Co. L P lifted 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 valued at $63,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 775 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE opened at $26.93 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The stock’s 50-day simple moving average is $28.07 and its 200 day simple moving average is $28.94.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $77.38 million during the quarter, compared to the consensus estimate 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. Research analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared 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 of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.31%. CareTrust REIT’s dividend payout ratio (DPR) is currently 161.11%.

Wall Street Analysts Forecast Growth

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

CareTrust REIT 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.