Deutsche Bank AG Reduces Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Deutsche Bank AG trimmed its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,179,787 shares of the real estate investment trust's stock after selling 775,733 shares during the quarter. Deutsche Bank AG owned approximately 1.85% of CareTrust REIT worth $86,013,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC grew its holdings in CareTrust REIT by 264.9% during the 3rd 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 period. Tidal Investments LLC bought a new stake in CareTrust REIT in the 3rd quarter valued at $576,000. Franklin Resources Inc. lifted 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 acquiring an additional 1,318 shares in the last quarter. Principal Financial Group Inc. lifted its position in CareTrust REIT by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust's stock valued at $25,870,000 after acquiring an additional 41,623 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in CareTrust REIT by 381.2% in 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. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. 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 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 report on Friday, March 14th. Finally, Wells Fargo & Company cut their price target 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 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Stock Up 2.0%

CTRE stock traded up $0.57 during trading on Thursday, hitting $28.61. 1,216,056 shares of the stock traded hands, compared to its average volume of 1,800,467. CareTrust REIT, Inc. has a 1 year low of $24.35 and a 1 year high of $33.15. The firm's 50 day moving average is $28.30 and its two-hundred day moving average is $28.07. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 36.22, 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 current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current 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 a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.68%. CareTrust REIT's dividend payout ratio (DPR) is presently 145.65%.

About CareTrust REIT

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.