ProShare Advisors LLC Grows Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

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

A number of other large investors have also recently bought and sold shares of the business. Advantage Trust Co acquired a new stake in CareTrust REIT during the 4th quarter worth approximately $30,000. Blue Trust Inc. raised its stake 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 raised its stake in shares of CareTrust REIT by 463.5% during the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,525 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of CareTrust REIT by 20.3% during the fourth 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 period. Finally, Smartleaf Asset Management LLC grew its position in CareTrust REIT by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 1,806 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Wells Fargo & Company lowered their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. 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 given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE traded up $0.22 on Friday, reaching $28.54. 159,722 shares of the company were exchanged, compared to its average volume of 1,813,050. The company has a 50-day moving average of $28.51 and a 200-day moving average of $27.94. 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 firm has a market cap of $5.47 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 1-year low of $24.35 and a 1-year high of $33.15.

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 $0.335 dividend. 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 4.70%. The ex-dividend date of this dividend was Monday, March 31st. 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.