OVERSEA CHINESE BANKING Corp Ltd Sells 33,921 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,673 shares of the real estate investment trust’s stock after selling 33,921 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.07% of CareTrust REIT worth $3,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CTRE. Advantage Trust Co purchased a new stake in shares of CareTrust REIT during the fourth quarter worth $30,000. Versant Capital Management Inc lifted its position in shares of CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 743 shares in the last quarter. Blue Trust Inc. lifted its position in shares of CareTrust REIT by 50.0% during 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 in the last quarter. Loomis Sayles & Co. L P lifted 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 acquiring an additional 1,990 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

CTRE stock opened at $29.15 on Thursday. 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, Inc. has a one year low of $23.26 and a one year high of $33.15. The stock has a market cap of $5.47 billion, a PE ratio of 36.89, a P/E/G ratio of 1.25 and a beta of 1.11. The firm has a 50 day simple moving average of $26.56 and a two-hundred day simple moving average of $28.65.

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 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 quarter in the previous year, the firm posted $0.25 earnings per share. On average, analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Monday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

Analyst Upgrades and Downgrades

CTRE has been the topic of several recent research reports. Wedbush restated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday, March 13th. Wells Fargo & Company cut their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus price target 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.