Tower Research Capital LLC TRC Has $523,000 Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Tower Research Capital LLC TRC grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 99.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,326 shares of the real estate investment trust's stock after buying an additional 9,643 shares during the quarter. Tower Research Capital LLC TRC's holdings in CareTrust REIT were worth $523,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTRE. Barclays PLC raised its stake in shares of CareTrust REIT by 264.9% in 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. World Investment Advisors LLC bought a new position in CareTrust REIT in the 3rd quarter worth approximately $407,000. Tidal Investments LLC acquired a new position in CareTrust REIT during the 3rd quarter worth $576,000. Franklin Resources Inc. boosted its position in CareTrust REIT by 2.3% in 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 buying an additional 1,318 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of CareTrust REIT in the 3rd quarter valued at $985,000. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

CareTrust REIT Trading Down 0.6 %

NASDAQ:CTRE traded down $0.19 during trading hours on Thursday, hitting $29.09. The stock had a trading volume of 1,812,340 shares, compared to its average volume of 1,788,795. The business's 50 day moving average is $27.81 and its 200-day moving average is $28.19. 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 company has a market cap of $5.46 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a one year low of $24.35 and a one year 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 earnings per share 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 prior year, the business earned $0.25 EPS. Sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal 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 dividend of $0.335 per share. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is 169.62%.

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.