Cubist Systematic Strategies LLC Purchases Shares of 173,913 CareTrust REIT, Inc. (NASDAQ:CTRE)

Cubist Systematic Strategies LLC bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 173,913 shares of the real estate investment trust's stock, valued at approximately $4,704,000. Cubist Systematic Strategies LLC owned approximately 0.10% of CareTrust REIT as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Advantage Trust Co purchased a new position in shares of CareTrust REIT in the fourth quarter valued at $30,000. Blue Trust Inc. grew its stake in shares of CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after buying an additional 603 shares in the last quarter. Quarry LP grew its stake in shares of CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,525 shares in the last quarter. Signaturefd LLC increased its holdings in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after buying an additional 443 shares during the last quarter. Finally, GAMMA Investing LLC raised its position 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 valued at $109,000 after buying an additional 790 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective 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. Royal Bank of Canada cut their price target 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. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Thursday, March 13th. Finally, Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CareTrust REIT has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Down 1.2%

NASDAQ CTRE traded down $0.35 on Tuesday, reaching $28.31. 1,166,613 shares of the stock traded hands, compared to its average volume of 1,801,621. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 1.25 and a beta of 0.88. The company has a fifty day moving average price of $28.26 and a 200-day moving average price of $28.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly earnings data 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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently disclosed 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 represents a $1.34 annualized dividend and a dividend yield of 4.73%. The ex-dividend date was Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is 145.65%.

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.