ProShare Advisors LLC Has $8.60 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

ProShare Advisors LLC lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,080 shares of the real estate investment trust's stock after acquiring an additional 54,396 shares during the period. ProShare Advisors LLC owned approximately 0.19% of CareTrust REIT worth $8,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advantage Trust Co acquired a new position in CareTrust REIT in the fourth quarter worth about $30,000. Blue Trust Inc. grew its holdings in shares of CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Quarry LP increased its position in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,525 shares in the last quarter. Signaturefd LLC raised its position in 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 purchasing an additional 443 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of CareTrust REIT by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock valued at $135,000 after acquiring an additional 1,806 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRE has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company cut their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Wedbush reaffirmed an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Price Performance

CareTrust REIT stock traded down $0.81 during trading hours on Wednesday, reaching $28.80. 2,576,147 shares of the stock were exchanged, compared to its average volume of 1,815,718. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The company has a market cap of $5.52 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The stock has a 50 day moving average of $28.51 and a two-hundred day moving average of $27.96.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given 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 4.65%. The ex-dividend date of this dividend was Monday, March 31st. 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.