BROOKFIELD Corp ON Has $35,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

BROOKFIELD Corp ON cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 99.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,284 shares of the real estate investment trust's stock after selling 531,432 shares during the period. BROOKFIELD Corp ON's holdings in CareTrust REIT were worth $35,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC increased 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 during the period. WealthShield Partners LLC grew its position in 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 valued at $1,343,000 after buying an additional 490 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after buying an additional 534 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after buying an additional 601 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 603 shares during the period. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CTRE shares. Wells Fargo & Company lowered 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 lowered their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Wedbush reaffirmed an "underperform" rating and set 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 target price on the stock 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 assigned a buy rating to the company's stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded up $0.19 during mid-day trading on Friday, reaching $29.14. The company had a trading volume of 922,060 shares, compared to its average volume of 1,801,285. CareTrust REIT, Inc. has a 1-year low of $24.35 and a 1-year high of $33.15. The stock has a market cap of $5.59 billion, a PE ratio of 36.89, a P/E/G ratio of 1.25 and a beta of 0.88. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $28.16 and a two-hundred day moving average price of $28.10.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings data 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 quarter in the previous year, the firm earned $0.25 EPS. On average, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share 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 given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.60%. CareTrust REIT's dividend payout ratio (DPR) is presently 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.