Knights of Columbus Asset Advisors LLC Cuts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Knights of Columbus Asset Advisors LLC cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,065 shares of the real estate investment trust’s stock after selling 19,579 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.06% of CareTrust REIT worth $2,869,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Signaturefd LLC grew its stake in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 443 shares in the last quarter. WealthShield Partners LLC grew its stake in shares of CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock valued at $1,343,000 after acquiring an additional 490 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of CareTrust REIT by 3.2% during the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 534 shares in the last quarter. Finally, Blue Trust Inc. grew its stake 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 valued at $49,000 after acquiring an additional 603 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.70 on Friday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $26.66 and a two-hundred day moving average of $28.64. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The company has a market cap of $5.39 billion, a P/E ratio of 36.33, a PEG ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the company earned $0.25 earnings per share. As a group, analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.335 dividend. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT’s payout ratio is presently 146.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTRE. Wedbush restated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, March 13th. Wells Fargo & Company decreased their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target 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 target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.