Corient Private Wealth LLC Acquires 1,903 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Corient Private Wealth LLC raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,481 shares of the real estate investment trust’s stock after acquiring an additional 1,903 shares during the period. Corient Private Wealth LLC’s holdings in CareTrust REIT were worth $608,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRE. Charles Schwab Investment Management Inc. lifted its position in CareTrust REIT by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust’s stock valued at $71,689,000 after acquiring an additional 132,874 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of CareTrust REIT by 8.1% in the third quarter. Citigroup Inc. now owns 198,070 shares of the real estate investment trust’s stock valued at $6,112,000 after purchasing an additional 14,801 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of CareTrust REIT by 5,527.8% during the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,990 shares during the period. Bank of Montreal Can grew its holdings in shares of CareTrust REIT by 18.3% during the third quarter. Bank of Montreal Can now owns 98,960 shares of the real estate investment trust’s stock worth $3,044,000 after buying an additional 15,328 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in CareTrust REIT by 9.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,934 shares of the real estate investment trust’s stock valued at $2,559,000 after buying an additional 6,979 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CTRE shares. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of 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, March 13th. Royal Bank of Canada lowered 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 note on Friday, February 21st. Wells Fargo & Company reduced their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Wedbush restated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Trading Up 1.2 %

Shares of CareTrust REIT stock opened at $28.90 on Friday. CareTrust REIT, Inc. has a 1 year low of $23.26 and a 1 year high of $33.15. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 1.25 and a beta of 1.11. The business has a fifty day simple moving average of $26.86 and a two-hundred day simple moving average of $28.61. 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 (NASDAQ:CTRE) last announced 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 posted $0.25 EPS. Research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 represents a $1.34 dividend on an annualized basis and a dividend yield of 4.64%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio (DPR) is 169.62%.

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.