Soros Fund Management LLC Makes New Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Soros Fund Management LLC bought a new position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 350,000 shares of the real estate investment trust's stock, valued at approximately $9,468,000. Soros Fund Management LLC owned 0.20% of CareTrust REIT as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of CareTrust REIT by 381.2% in 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 buying an additional 5,448,904 shares during the period. Bank of New York Mellon Corp grew its position in CareTrust REIT by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock worth $67,784,000 after acquiring an additional 126,280 shares during the last quarter. Tidal Investments LLC purchased a new position in CareTrust REIT in the 3rd quarter worth approximately $576,000. Rhumbline Advisers lifted its position in CareTrust REIT by 26.9% in the fourth quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust's stock valued at $15,491,000 after purchasing an additional 121,328 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of CareTrust REIT by 9.2% during the fourth quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock valued at $608,000 after purchasing an additional 1,903 shares during the period. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded 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 lowered their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Wedbush reissued an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Royal Bank of Canada dropped their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Down 1.9 %

CareTrust REIT stock traded down $0.55 during trading hours on Friday, hitting $28.52. 2,231,988 shares of the stock traded hands, compared to its average volume of 1,794,107. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15. The company has a market cap of $5.35 billion, a PE ratio of 36.10, a PEG ratio of 1.25 and a beta of 0.88. The firm's 50-day moving average price is $27.86 and its two-hundred day moving average price is $28.17. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 previous year, the firm earned $0.25 earnings per share. On average, research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio is 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.