Pitcairn Co. Has $380,000 Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Pitcairn Co. grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,045 shares of the real estate investment trust’s stock after buying an additional 605 shares during the period. Pitcairn Co.’s holdings in CareTrust REIT were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advantage Trust Co bought a new position in CareTrust REIT during the 4th quarter worth $30,000. Versant Capital Management Inc boosted its holdings 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 in the last quarter. Blue Trust Inc. grew its holdings in 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 acquiring an additional 603 shares during the last quarter. Signaturefd LLC increased its stake in shares of CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 443 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 790 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $27.98 on Friday. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The firm’s 50-day simple moving average is $27.03 and its 200 day simple moving average is $28.52.

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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company 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 represents a $1.34 dividend on an annualized basis and a yield of 4.79%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT’s payout ratio is currently 169.62%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTRE shares. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Thursday, March 13th. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Royal Bank of Canada decreased their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Wells Fargo & Company cut their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Wedbush restated an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. 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, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.