J. W. Coons Advisors LLC Raises Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

J. W. Coons Advisors LLC lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,529 shares of the real estate investment trust’s stock after buying an additional 1,625 shares during the period. J. W. Coons Advisors LLC’s holdings in CareTrust REIT were worth $231,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in CareTrust REIT by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after acquiring an additional 670,348 shares in the last quarter. State Street Corp lifted its position in shares of CareTrust REIT by 6.7% during the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after purchasing an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. FMR LLC boosted its holdings in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in CareTrust REIT by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.5 %

Shares of CTRE stock opened at $25.06 on Tuesday. 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 firm has a market cap of $4.70 billion, a P/E ratio of 31.72, a PEG ratio of 1.25 and a beta of 1.09. The company has a 50 day moving average of $26.66 and a 200-day moving average of $28.87. CareTrust REIT, Inc. has a 12-month low of $22.46 and a 12-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 earnings per share (EPS) 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 in the previous year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 146.84%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada dropped 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 report on Friday. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of “Hold” and an average price target of $30.83.

About CareTrust REIT

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.