89,881 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,881 shares of the real estate investment trust’s stock, valued at approximately $2,431,000. Caisse Des Depots ET Consignations owned approximately 0.05% of CareTrust REIT as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRE. Advantage Trust Co bought a new stake in shares of CareTrust REIT in the 4th quarter valued at about $30,000. Versant Capital Management Inc grew its position in shares of CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 743 shares during the period. Blue Trust Inc. raised its stake in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares during the period. Loomis Sayles & Co. L P lifted its holdings in CareTrust REIT by 5,527.8% during 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 in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in CareTrust REIT in the 3rd quarter worth about $80,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRE has been the topic of several recent research reports. BMO Capital Markets cut 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 research report on Monday, December 9th. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. Wedbush reiterated an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Wells Fargo & Company lowered their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Down 0.3 %

Shares of NASDAQ:CTRE opened at $28.60 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 company has a market capitalization of $5.37 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15. The stock’s fifty day simple moving average is $26.82 and its 200-day simple moving average is $28.62.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly 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 return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio is currently 169.62%.

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.