AlphaQuest LLC Sells 47,130 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

AlphaQuest LLC cut its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 78.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,183 shares of the real estate investment trust’s stock after selling 47,130 shares during the period. AlphaQuest LLC’s holdings in CareTrust REIT were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 670,348 shares in the last quarter. State Street Corp lifted 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 valued at $259,255,000 after purchasing an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. grew 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 valued at $212,267,000 after purchasing an additional 5,448,904 shares during the period. FMR LLC increased its stake in CareTrust REIT by 209.9% during the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in CareTrust REIT by 7.4% during 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. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE opened at $28.35 on Friday. The company has a market cap of $5.32 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The firm has a 50-day moving average of $26.39 and a 200-day moving average of $28.68. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. 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 posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 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 prior year, the firm posted $0.25 EPS. As a group, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently declared 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 4.09%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is 146.84%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTRE. Wells Fargo & Company reduced their price target 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. Wedbush reiterated an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday. 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 dropped their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.