CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by LPL Financial LLC

LPL Financial LLC raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,422 shares of the real estate investment trust's stock after buying an additional 11,008 shares during the quarter. LPL Financial LLC owned about 0.05% of CareTrust REIT worth $2,527,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted 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 valued at $212,267,000 after acquiring an additional 5,448,904 shares during the last quarter. Raymond James Financial Inc. purchased a new position in CareTrust REIT in the 4th quarter valued at about $49,048,000. Charles Schwab Investment Management Inc. lifted its holdings in CareTrust REIT by 24.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust's stock valued at $78,220,000 after purchasing an additional 568,634 shares in the last quarter. Aew Capital Management L P boosted its stake in shares of CareTrust REIT by 60.2% during the 4th quarter. Aew Capital Management L P now owns 974,702 shares of the real estate investment trust's stock worth $26,366,000 after purchasing an additional 366,400 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of CareTrust REIT by 37.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 950,977 shares of the real estate investment trust's stock worth $25,724,000 after buying an additional 259,902 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

CTRE has been the subject of several analyst reports. 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 report on Thursday, March 13th. Wells Fargo & Company reduced their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report 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 for the company in a report on Friday, February 21st. Finally, Wedbush reiterated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Trading Up 0.5 %

Shares of NASDAQ:CTRE traded up $0.14 during trading on Friday, reaching $28.76. 1,294,136 shares of the stock were exchanged, compared to its average volume of 1,769,219. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The firm's 50-day moving average price is $27.26 and its 200 day moving average price is $28.31. 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 $5.40 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company posted $0.25 earnings per share. On average, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.66%. CareTrust REIT's dividend payout ratio is presently 169.62%.

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.