Deutsche Bank AG Has $86.01 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Deutsche Bank AG reduced its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,179,787 shares of the real estate investment trust's stock after selling 775,733 shares during the period. Deutsche Bank AG owned 1.85% of CareTrust REIT worth $86,013,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after acquiring an additional 5,448,904 shares during the period. Vanguard Group Inc. boosted its holdings in CareTrust REIT by 18.5% in the fourth 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 during the period. FMR LLC boosted its holdings in CareTrust REIT by 51.8% in the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after purchasing an additional 2,708,050 shares during the period. Raymond James Financial Inc. purchased a new stake in CareTrust REIT during the 4th quarter worth about $49,048,000. Finally, Balyasny Asset Management L.P. lifted its holdings in CareTrust REIT by 149.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock worth $73,269,000 after buying an additional 1,623,297 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTRE. Wells Fargo & Company reduced their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Royal Bank of Canada cut their target price on 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 reiterated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Up 1.8%

Shares of NASDAQ CTRE traded up $0.53 during midday trading on Friday, reaching $29.17. 1,110,513 shares of the company's stock were exchanged, compared to its average volume of 1,808,660. CareTrust REIT, Inc. has a 52-week low of $24.35 and a 52-week high of $33.15. The stock has a market capitalization of $5.59 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. 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 business's fifty day moving average price is $28.42 and its two-hundred day moving average price is $28.00.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its 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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the business earned $0.25 EPS. Analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.59%. CareTrust REIT's payout ratio is currently 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.