221,594 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 221,594 shares of the real estate investment trust's stock, valued at approximately $5,994,000. Susquehanna Fundamental Investments LLC owned approximately 0.13% of CareTrust REIT as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after purchasing an additional 5,448,904 shares during the period. Vanguard Group Inc. increased its stake in CareTrust REIT by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock worth $738,482,000 after acquiring an additional 4,263,097 shares during the period. FMR LLC lifted its position in shares of CareTrust REIT by 51.8% during 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 period. Raymond James Financial Inc. bought a new position in shares of CareTrust REIT in the fourth quarter worth $49,048,000. Finally, Norges Bank acquired a new position in CareTrust REIT in the fourth quarter valued at about $33,180,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTRE. Wells Fargo & Company reduced 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 note on Monday, March 10th. Royal Bank of Canada lowered their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Wedbush restated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research report on Thursday, March 13th. One equities 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. According to data from MarketBeat, CareTrust REIT has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Price Performance

Shares of CTRE traded down $0.19 during trading hours on Thursday, reaching $29.09. The stock had a trading volume of 1,812,340 shares, compared to its average volume of 1,785,686. 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, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The stock has a market capitalization of $5.46 billion, a PE ratio of 36.82, a PEG ratio of 1.25 and a beta of 0.88. The company's 50-day moving average is $27.81 and its two-hundred day moving average is $28.19.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $0.25 EPS. Research analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.61%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's dividend 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.