World Investment Advisors Increases Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

World Investment Advisors grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 63.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,486 shares of the real estate investment trust’s stock after acquiring an additional 8,312 shares during the period. World Investment Advisors’ holdings in CareTrust REIT were worth $581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CareTrust REIT by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock worth $738,482,000 after purchasing an additional 4,263,097 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CareTrust REIT in the fourth quarter worth $49,048,000. Norges Bank purchased a new stake in shares of CareTrust REIT in the fourth quarter worth $33,180,000. Finally, Geode Capital Management LLC raised its position in shares of CareTrust REIT by 23.8% during the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust’s stock valued at $125,006,000 after purchasing an additional 887,665 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTRE shares. Wedbush reaffirmed an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, March 13th. Royal Bank of Canada lowered their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report 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 for the company in a report on Monday, March 10th. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $34.00 to $32.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Trading Down 4.4 %

CTRE stock opened at $26.73 on Tuesday. The firm has a market cap of $5.02 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The firm has a fifty day moving average price of $27.01 and a 200 day moving average price of $28.47. 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.

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 quarter in the prior year, the company earned $0.25 earnings per share. Sell-side analysts anticipate 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 given a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, March 31st. 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 5.01%. CareTrust REIT’s dividend payout ratio is 169.62%.

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.