Lighthouse Investment Partners LLC Boosts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Lighthouse Investment Partners LLC raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,000 shares of the real estate investment trust's stock after acquiring an additional 55,000 shares during the period. Lighthouse Investment Partners LLC owned approximately 0.22% of CareTrust REIT worth $10,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of CareTrust REIT by 264.9% during the third quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust's stock worth $8,017,000 after acquiring an additional 188,622 shares during the last quarter. Tidal Investments LLC purchased a new stake in CareTrust REIT during the 3rd quarter worth approximately $576,000. Franklin Resources Inc. increased its stake in CareTrust REIT by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 58,065 shares of the real estate investment trust's stock valued at $1,754,000 after purchasing an additional 1,318 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust's stock worth $25,870,000 after buying an additional 41,623 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of CareTrust REIT by 381.2% during 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 buying an additional 5,448,904 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE traded up $0.57 during trading on Thursday, reaching $28.61. 1,216,056 shares of the company traded hands, compared to its average volume of 1,800,467. The stock has a market cap of $5.48 billion, a P/E ratio of 36.22, a PEG ratio of 1.25 and a beta of 0.88. The firm's fifty day simple moving average is $28.30 and its 200 day simple moving average is $28.07. The company has a current ratio of 3.82, a quick 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 earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 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 business earned $0.25 EPS. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

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 paid a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.68%. CareTrust REIT's dividend payout ratio (DPR) is presently 145.65%.

Analyst Ratings Changes

Several research firms recently issued reports on CTRE. Wedbush reissued an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. 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. Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. One investment 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. Based on data from MarketBeat.com, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average 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.