Schonfeld Strategic Advisors LLC Lowers Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Schonfeld Strategic Advisors LLC lessened its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 98.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,300 shares of the real estate investment trust's stock after selling 1,322,536 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in CareTrust REIT were worth $495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTRE. Advantage Trust Co purchased a new position in CareTrust REIT in the fourth quarter valued at about $30,000. Blue Trust Inc. increased its stake in 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 valued at $49,000 after purchasing an additional 603 shares in the last quarter. Quarry LP raised its holdings in CareTrust REIT by 463.5% during the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,525 shares during the last quarter. Signaturefd LLC boosted its position in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in CareTrust REIT by 24.4% in the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after purchasing an additional 790 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Trading Down 1.2%

Shares of CTRE traded down $0.35 on Tuesday, hitting $28.31. 1,166,613 shares of the stock traded hands, compared to its average volume of 1,801,621. CareTrust REIT, Inc. has a 1 year low of $24.35 and a 1 year high of $33.15. The stock's 50 day moving average is $28.26 and its two-hundred day moving average is $28.07. The firm has a market capitalization of $5.43 billion, a P/E ratio of 35.84, a P/E/G ratio of 1.25 and a beta of 0.88. 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 (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 (EPS) 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 period last year, the firm posted $0.25 EPS. As a group, sell-side analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.335 per share. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.73%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio is currently 145.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. Royal Bank of Canada lowered 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. Wedbush restated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company lowered their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock 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.