Capital Square LLC Acquires 4,466 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Capital Square LLC raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,112 shares of the real estate investment trust’s stock after purchasing an additional 4,466 shares during the quarter. CareTrust REIT accounts for about 1.5% of Capital Square LLC’s portfolio, making the stock its 11th biggest position. Capital Square LLC owned approximately 0.06% of CareTrust REIT worth $2,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CTRE. JPMorgan Chase & Co. raised its position in CareTrust REIT by 381.2% in the third 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 during the period. Vanguard Group Inc. boosted its holdings in CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock valued at $738,482,000 after purchasing an additional 4,263,097 shares during the period. FMR LLC grew its position in CareTrust REIT by 51.8% during the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock worth $214,586,000 after buying an additional 2,708,050 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CareTrust REIT during the fourth quarter worth about $49,048,000. Finally, Norges Bank purchased a new position in CareTrust REIT in the 4th quarter worth approximately $33,180,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 0.9 %

Shares of CareTrust REIT stock opened at $28.66 on Thursday. CareTrust REIT, Inc. has a 1 year low of $23.26 and a 1 year high of $33.15. The company has a 50-day moving average of $27.21 and a 200 day moving average of $28.33. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 1.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 company earned $0.25 EPS. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.335 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.68%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s payout ratio is currently 169.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wedbush reiterated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Wells Fargo & Company decreased their price target 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. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada dropped their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One investment 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. Based on data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus target price 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.