17,378 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Cibc World Markets Corp

Cibc World Markets Corp bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the 4th quarter, HoldingsChannel reports. The firm bought 17,378 shares of the real estate investment trust’s stock, valued at approximately $470,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRE. Swiss National Bank grew its stake in CareTrust REIT by 4.4% during the 3rd quarter. Swiss National Bank now owns 277,349 shares of the real estate investment trust’s stock worth $8,559,000 after buying an additional 11,800 shares during the last quarter. Jennison Associates LLC purchased a new stake in CareTrust REIT during the 3rd quarter valued at about $1,212,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CareTrust REIT during the 3rd quarter valued at about $1,110,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in CareTrust REIT during the 3rd quarter valued at about $7,475,000. Finally, Intech Investment Management LLC purchased a new stake in CareTrust REIT during the 3rd quarter valued at about $1,393,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CTRE shares. Wells Fargo & Company dropped 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 upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. Wedbush reissued an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada decreased their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.70 on Monday. 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. The business has a 50-day simple moving average of $26.66 and a 200-day simple moving average of $28.63. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. 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 results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted $0.25 earnings per share. On average, equities analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.335 dividend. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.67%. CareTrust REIT’s dividend payout ratio is presently 169.62%.

CareTrust REIT Company 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.