CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 43.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 35,171 shares of the real estate investment trust’s stock after buying an additional 10,655 shares during the quarter. Van ECK Associates Corp’s holdings in CareTrust REIT were worth $951,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Eagle Asset Management Inc. increased its position in shares of CareTrust REIT by 22.4% in the third quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock worth $13,264,000 after acquiring an additional 78,560 shares in the last quarter. Raymond James & Associates increased its position in shares of CareTrust REIT by 10.6% in the third quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock worth $21,138,000 after acquiring an additional 65,756 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CareTrust REIT in the third quarter worth approximately $7,475,000. Finally, Principal Financial Group Inc. increased its position in shares of CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock worth $25,870,000 after acquiring an additional 41,623 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

CTRE stock opened at $24.90 on Friday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.26 and a beta of 1.09. CareTrust REIT, Inc. has a 12 month low of $22.46 and a 12 month high of $33.15. The firm has a 50 day moving average of $26.73 and a two-hundred day moving average of $28.86.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 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 in the prior year, the company earned $0.25 earnings per share. As a group, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is 146.84%.

Analyst Ratings Changes

CTRE has been the topic of a number of research analyst reports. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. Royal Bank of Canada lowered their price objective 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. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $32.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT has an average rating of “Hold” and a consensus target price of $30.83.

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.