CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 99.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,326 shares of the real estate investment trust’s stock after acquiring an additional 9,643 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CareTrust REIT were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTRE. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 5,448,904 shares during the last quarter. Vanguard Group Inc. lifted its holdings in CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock valued at $738,482,000 after acquiring an additional 4,263,097 shares during the last quarter. FMR LLC lifted its holdings in CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock valued at $214,586,000 after acquiring an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in CareTrust REIT during the 4th quarter worth about $49,048,000. Finally, Norges Bank purchased a new stake in CareTrust REIT during the fourth quarter valued at about $33,180,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. Royal Bank of Canada lowered 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 report on Friday, February 21st. Wells Fargo & Company lowered their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Wedbush reiterated an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Trading Up 1.1 %

CareTrust REIT stock opened at $28.42 on Tuesday. The company’s fifty day simple moving average is $27.57 and its 200-day simple moving average is $28.18. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The stock has a market cap of $5.33 billion, a P/E ratio of 35.97, a P/E/G ratio of 1.25 and a beta of 0.88.

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 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 in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.72%. 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. CareTrust REIT’s payout ratio is presently 169.62%.

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.