Lighthouse Investment Partners LLC Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Lighthouse Investment Partners LLC lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 375,000 shares of the real estate investment trust's stock after buying an additional 55,000 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.22% of CareTrust REIT worth $10,144,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of CareTrust REIT by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock worth $738,482,000 after buying an additional 4,263,097 shares during the period. FMR LLC raised its stake in shares of CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock worth $214,586,000 after buying an additional 2,708,050 shares during the period. JPMorgan Chase & Co. raised its stake in shares of CareTrust REIT by 381.2% during the 3rd 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. Geode Capital Management LLC raised its stake in shares of CareTrust REIT by 23.8% during the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock worth $125,006,000 after buying an additional 887,665 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $78,220,000 after buying an additional 568,634 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Up 1.8%

NASDAQ:CTRE traded up $0.53 during trading hours on Friday, hitting $29.17. The company had a trading volume of 1,110,513 shares, compared to its average volume of 1,808,660. 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 of $28.42 and a 200 day moving average of $28.00. The company has a market cap of $5.59 billion, a P/E ratio of 36.92, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 1 year low of $24.35 and a 1 year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its 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 period in the previous year, the firm earned $0.25 earnings per share. Sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.335 dividend. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's dividend payout ratio is presently 145.65%.

Analyst Ratings Changes

Several analysts recently commented on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. Wedbush reiterated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average 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.