Raymond James Financial Inc. Buys Shares of 1,813,253 CareTrust REIT, Inc. (NASDAQ:CTRE)

Raymond James Financial Inc. bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,813,253 shares of the real estate investment trust’s stock, valued at approximately $49,048,000.

Several other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in CareTrust REIT by 9.4% in the 4th quarter. Arizona State Retirement System now owns 44,753 shares of the real estate investment trust’s stock valued at $1,211,000 after acquiring an additional 3,848 shares in the last quarter. M&T Bank Corp raised its stake in shares of CareTrust REIT by 15.6% during the 4th quarter. M&T Bank Corp now owns 15,356 shares of the real estate investment trust’s stock worth $415,000 after purchasing an additional 2,076 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of CareTrust REIT by 5.0% during the 4th quarter. NewSquare Capital LLC now owns 32,230 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 1,525 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of CareTrust REIT by 8.9% during the 4th quarter. Victory Capital Management Inc. now owns 909,627 shares of the real estate investment trust’s stock worth $24,605,000 after purchasing an additional 74,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of CareTrust REIT by 24.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust’s stock worth $78,220,000 after purchasing an additional 568,634 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.9 %

CTRE stock opened at $26.05 on Wednesday. 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 firm has a market capitalization of $4.89 billion, a PE ratio of 32.97, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. The business’s 50 day simple moving average is $26.39 and its 200 day simple moving average is $28.72.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is 146.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTRE. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada dropped their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.33.

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.