Nebula Research & Development LLC Grows Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Nebula Research & Development LLC raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,365 shares of the real estate investment trust’s stock after buying an additional 7,393 shares during the period. Nebula Research & Development LLC’s holdings in CareTrust REIT were worth $1,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRE. Advantage Trust Co purchased a new position in CareTrust REIT in the fourth quarter valued at about $30,000. Versant Capital Management Inc raised its position in shares of CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 743 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the last quarter. Signaturefd LLC boosted its stake in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 443 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 790 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CTRE shares. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. 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, March 13th. Wedbush reissued an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Wells Fargo & Company reduced their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Trading Down 0.2 %

NASDAQ CTRE opened at $28.10 on Friday. The firm has a market capitalization of $5.27 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a one year low of $23.92 and a one year high of $33.15. The company has a 50-day simple moving average of $27.52 and a 200-day simple moving average of $28.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE) last posted 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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the business earned $0.25 EPS. On average, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.335 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.77%. CareTrust REIT’s dividend payout ratio (DPR) is currently 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.