CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC grew its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,821 shares of the real estate investment trust’s stock after purchasing an additional 19,211 shares during the period. Natixis Advisors LLC’s holdings in CareTrust REIT were worth $3,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CTRE. Wellington Management Group LLP raised its stake in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after purchasing an additional 670,348 shares during the period. State Street Corp increased its holdings in shares of CareTrust REIT by 6.7% during the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock worth $259,255,000 after buying an additional 520,783 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 5,448,904 shares during the period. FMR LLC boosted its holdings in CareTrust REIT by 209.9% in the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after acquiring an additional 3,538,798 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in CareTrust REIT by 7.4% during the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after acquiring an additional 258,271 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CTRE. Wedbush reissued an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Royal Bank of Canada cut their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Performance

CTRE opened at $28.70 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $26.66 and its 200-day moving average is $28.64. The stock has a market cap of $5.39 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the firm posted $0.25 EPS. On average, analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.335 per share. The ex-dividend date is Monday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.67%. CareTrust REIT’s dividend 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.