Centiva Capital LP Buys Shares of 62,699 CareTrust REIT, Inc. (NASDAQ:CTRE)

Centiva Capital LP purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 62,699 shares of the real estate investment trust's stock, valued at approximately $1,696,000.

Other hedge funds also recently bought and sold shares of the company. BOKF NA lifted its stake in shares of CareTrust REIT by 49.3% during the fourth quarter. BOKF NA now owns 12,314 shares of the real estate investment trust's stock valued at $321,000 after buying an additional 4,065 shares during the period. Bridgefront Capital LLC acquired a new position in shares of CareTrust REIT during the 4th quarter valued at $1,174,000. Balyasny Asset Management L.P. grew its stake in shares of CareTrust REIT by 149.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after buying an additional 1,623,297 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of CareTrust REIT by 3.7% in the fourth quarter. Bank of America Corp DE now owns 406,388 shares of the real estate investment trust's stock valued at $10,993,000 after purchasing an additional 14,550 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of CareTrust REIT by 19.5% during the fourth quarter. Benjamin Edwards Inc. now owns 86,313 shares of the real estate investment trust's stock valued at $2,335,000 after acquiring an additional 14,065 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

NASDAQ:CTRE traded down $0.26 during mid-day trading on Tuesday, reaching $28.40. 471,607 shares of the stock were exchanged, compared to its average volume of 1,795,058. CareTrust REIT, Inc. has a 1-year low of $24.35 and a 1-year high of $33.15. 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 business has a fifty day moving average price of $28.20 and a 200 day moving average price of $28.07. The firm has a market capitalization of $5.44 billion, a PE ratio of 35.95, a PEG ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly 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 prior year, the firm posted $0.25 earnings per share. Research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid 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 4.72%. The ex-dividend date was Monday, March 31st. CareTrust REIT's payout ratio is 145.65%.

Analyst Upgrades and Downgrades

CTRE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research note on Thursday, March 13th. Wedbush reaffirmed an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Royal Bank of Canada dropped their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company reduced 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 note on Monday, March 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.