CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 174.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,937 shares of the real estate investment trust's stock after acquiring an additional 189,565 shares during the quarter. Hsbc Holdings PLC owned about 0.17% of CareTrust REIT worth $8,021,000 as of its most recent SEC filing.

A number of 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 4th quarter valued at $30,000. Versant Capital Management Inc boosted its position in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 743 shares during the last quarter. Blue Trust Inc. grew its stake in CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares in the last quarter. Signaturefd LLC raised its holdings in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 443 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of CareTrust REIT by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock worth $109,000 after purchasing an additional 790 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Down 0.6 %

Shares of CTRE traded down $0.19 during trading on Thursday, reaching $29.09. 1,812,340 shares of the company traded hands, compared to its average volume of 1,788,795. The stock has a 50-day simple moving average of $27.81 and a 200-day simple moving average of $28.19. 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, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The stock has a market cap of $5.46 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly 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 in the previous year, the business earned $0.25 EPS. On average, 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued 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 4.61%. CareTrust REIT's dividend payout ratio is 169.62%.

Analysts Set New Price Targets

A number of brokerages recently commented on CTRE. Royal Bank of Canada reduced their price objective 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. Wells Fargo & Company lowered their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. 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 shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research note on Thursday, March 13th. 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 stock. According to MarketBeat, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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.