Alyeska Investment Group L.P. Sells 446,608 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Alyeska Investment Group L.P. trimmed its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 24.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,384,842 shares of the real estate investment trust's stock after selling 446,608 shares during the quarter. Alyeska Investment Group L.P. owned 0.81% of CareTrust REIT worth $37,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 5,448,904 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CareTrust REIT by 5.3% during the fourth 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 purchasing an additional 126,280 shares during the period. Tidal Investments LLC acquired a new stake in CareTrust REIT during the third quarter valued at approximately $576,000. Corient Private Wealth LLC grew its stake in shares of CareTrust REIT by 9.2% in the 4th 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. Finally, Rhumbline Advisers lifted its position in shares of CareTrust REIT by 26.9% during the 4th quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust's stock worth $15,491,000 after buying an additional 121,328 shares during the period. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CTRE shares. Royal Bank of Canada cut 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. Wells Fargo & Company dropped their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Wedbush reiterated an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft raised 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Trading Up 0.9 %

CTRE stock traded up $0.25 during trading on Friday, hitting $29.20. The company had a trading volume of 271,067 shares, compared to its average volume of 1,753,786. The firm has a 50-day moving average price of $28.10 and a 200-day moving average price of $28.13. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 1.25 and a beta of 0.88.

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 for the quarter, missing analysts' consensus estimates 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 company posted $0.25 EPS. As a group, analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.59%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's payout ratio is 145.65%.

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.