EntryPoint Capital LLC Acquires New Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

EntryPoint Capital LLC bought a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,644 shares of the real estate investment trust’s stock, valued at approximately $288,000.

A number of other large investors have also added to or reduced their stakes in the stock. Advantage Trust Co purchased a new position in shares of CareTrust REIT in the 4th quarter worth $30,000. Versant Capital Management Inc lifted its holdings in CareTrust REIT by 98.8% in the fourth 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. boosted its position in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of CareTrust REIT by 5,527.8% during the 3rd 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 period. Finally, Signaturefd LLC increased its position in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Down 0.3 %

CTRE opened at $28.60 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The firm’s fifty day moving average is $26.82 and its 200 day moving average is $28.62.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data 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 in the prior year, the business posted $0.25 earnings per share. On average, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

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

Wall Street Analyst Weigh In

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

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.