CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Position Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 114.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,231 shares of the real estate investment trust’s stock after purchasing an additional 41,272 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CareTrust REIT were worth $2,089,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Advantage Trust Co bought a new stake in CareTrust REIT in the 4th quarter valued at about $30,000. Versant Capital Management Inc lifted its position in CareTrust REIT by 98.8% in 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 purchasing an additional 743 shares during the last quarter. Blue Trust Inc. lifted its position in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in CareTrust REIT by 5,527.8% in 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 last quarter. Finally, FSA Wealth Management LLC bought a new stake in CareTrust REIT in the 3rd quarter valued at about $80,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. 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 report on Monday, March 10th. Royal Bank of Canada dropped 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 report on Friday, February 21st. Wedbush restated an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. One investment 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. According to data from MarketBeat, CareTrust REIT presently has an average rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Performance

Shares of CTRE opened at $28.89 on Wednesday. The firm’s 50 day moving average is $26.52 and its 200-day moving average is $28.65. The stock has a market capitalization of $5.42 billion, a P/E ratio of 36.57, a P/E/G ratio of 1.25 and a beta of 1.11. 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, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.64%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s payout ratio is currently 146.84%.

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.