CareTrust REIT, Inc. (NASDAQ:CTRE) Position Increased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,313 shares of the real estate investment trust's stock after acquiring an additional 14,065 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.05% of CareTrust REIT worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CTRE. Vanguard Group Inc. lifted its position in CareTrust REIT by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after purchasing an additional 4,263,097 shares during the last quarter. FMR LLC boosted its position in CareTrust REIT by 51.8% during the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after purchasing an additional 2,708,050 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 5,448,904 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CareTrust REIT by 23.8% in the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock valued at $125,006,000 after purchasing an additional 887,665 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CareTrust REIT by 24.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust's stock valued at $78,220,000 after purchasing an additional 568,634 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTRE. Wells Fargo & Company dropped 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 cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. Finally, Wedbush reiterated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Trading Up 0.7 %

Shares of CTRE stock traded up $0.19 during mid-day trading on Friday, reaching $29.14. The company's stock had a trading volume of 922,060 shares, compared to its average volume of 1,796,611. The firm has a market capitalization of $5.59 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company's 50 day simple moving average is $28.16 and its 200-day simple moving average is $28.12. 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.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the firm earned $0.25 earnings per share. On average, research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.335 per share. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's dividend payout ratio is currently 145.65%.

CareTrust REIT 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.