Alliancebernstein L.P. Has $6.74 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Alliancebernstein L.P. boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 249,046 shares of the real estate investment trust's stock after purchasing an additional 50,859 shares during the period. Alliancebernstein L.P. owned about 0.15% of CareTrust REIT worth $6,737,000 as of its most recent SEC filing.

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

CareTrust REIT Trading Up 0.9 %

Shares of CTRE traded up $0.25 during trading hours on Thursday, hitting $28.87. 209,708 shares of the stock traded hands, compared to its average volume of 1,758,349. The business has a fifty day moving average of $27.21 and a 200-day moving average of $28.33. The firm has a market capitalization of $5.42 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. 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 released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the company earned $0.25 EPS. Analysts expect 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 paid a $0.335 dividend. The ex-dividend date was Monday, March 31st. 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 4.64%. CareTrust REIT's dividend payout ratio (DPR) is presently 169.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CTRE shares. Royal Bank of Canada reduced their price target 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 dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. 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. Finally, Wedbush reaffirmed an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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.