Guggenheim Capital LLC Sells 149,730 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Guggenheim Capital LLC trimmed its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 45.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,567 shares of the real estate investment trust's stock after selling 149,730 shares during the period. Guggenheim Capital LLC owned about 0.11% of CareTrust REIT worth $4,884,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after purchasing an additional 4,263,097 shares in the last quarter. FMR LLC raised its position 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 valued at $214,586,000 after acquiring an additional 2,708,050 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $125,006,000 after acquiring an additional 887,665 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $78,220,000 after acquiring an additional 568,634 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target 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 cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Wedbush restated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a report on Thursday, March 13th. 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Stock Up 0.2 %

NASDAQ CTRE traded up $0.07 during trading on Thursday, reaching $28.40. The company's stock had a trading volume of 280,659 shares, compared to its average volume of 1,773,279. 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 stock has a market capitalization of $5.33 billion, a PE ratio of 35.98, a PEG ratio of 1.25 and a beta of 0.88. The business has a 50-day moving average price of $27.45 and a 200-day moving average price of $28.25. CareTrust REIT, Inc. has a 1-year low of $23.62 and a 1-year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter last year, the firm earned $0.25 earnings per share. On average, research analysts forecast 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. Investors 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. This represents a $1.34 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, March 31st. 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.