CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 170.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,630 shares of the real estate investment trust's stock after acquiring an additional 70,418 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of CareTrust REIT worth $3,020,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of CareTrust REIT by 20.3% during the fourth 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. WealthShield Partners LLC increased its stake in shares of CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after purchasing an additional 490 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after purchasing an additional 534 shares during the period. O Shaughnessy Asset Management LLC lifted its position in CareTrust REIT by 5.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after purchasing an additional 601 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in 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 purchasing an additional 603 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Down 2.6%

CareTrust REIT stock traded down $0.77 during mid-day trading on Wednesday, reaching $28.84. 356,671 shares of the company were exchanged, compared to its average volume of 1,807,300. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market cap of $5.53 billion, a P/E ratio of 36.46, a PEG ratio of 1.25 and a beta of 0.88. The business has a fifty day moving average of $28.51 and a 200 day moving average of $27.96. CareTrust REIT, Inc. has a 12-month low of $24.35 and a 12-month high of $33.15.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.335 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.65%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is presently 145.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company decreased their target price 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. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. Finally, Wedbush reissued an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.