WealthShield Partners LLC Boosts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

WealthShield Partners LLC grew its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,119 shares of the real estate investment trust’s stock after buying an additional 490 shares during the period. WealthShield Partners LLC’s holdings in CareTrust REIT were worth $1,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in shares of CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 533 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after acquiring an additional 544 shares during the period. Blue Trust Inc. increased its stake in shares of CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares during the period. Pitcairn Co. increased its stake in shares of CareTrust REIT by 5.3% in the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 671 shares during the period. Finally, US Bancorp DE increased its stake in shares of CareTrust REIT by 6.2% in the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust’s stock worth $364,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.5 %

CTRE stock opened at $25.06 on Tuesday. The firm has a market cap of $4.70 billion, a PE ratio of 31.72, a P/E/G ratio of 1.25 and a beta of 1.09. 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 firm’s fifty day moving average is $26.66 and its 200 day moving average is $28.87. CareTrust REIT, Inc. has a one year low of $22.46 and a one year 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 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 business posted $0.25 EPS. On average, research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Dividend Announcement

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

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of research reports. Royal Bank of Canada cut their price objective 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. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.83.

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.