Amundi Has $5.27 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Amundi boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 84.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,798 shares of the real estate investment trust’s stock after purchasing an additional 89,728 shares during the quarter. Amundi owned about 0.11% of CareTrust REIT worth $5,271,000 as of its most recent SEC filing.

Several other hedge funds 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 approximately $30,000. Versant Capital Management Inc raised its holdings in CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 743 shares during the period. Blue Trust Inc. boosted its position in shares of CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of 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 buying an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in CareTrust REIT in the third quarter valued at about $80,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTRE. Royal Bank of Canada reduced their price target 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. 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 report on Thursday. Wells Fargo & Company cut their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wedbush reaffirmed an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE opened at $28.35 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a 50 day moving average price of $26.42 and a 200 day moving average price of $28.67. The stock has a market capitalization of $5.32 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data 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 net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the company posted $0.25 earnings per share. Analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s payout ratio is presently 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.