Squarepoint Ops LLC Acquires 173,477 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Squarepoint Ops LLC increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 406.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 216,196 shares of the real estate investment trust's stock after purchasing an additional 173,477 shares during the period. Squarepoint Ops LLC owned 0.13% of CareTrust REIT worth $5,848,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quantinno Capital Management LP grew its holdings in CareTrust REIT by 2.3% during the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock worth $473,000 after purchasing an additional 385 shares during the period. Signaturefd LLC grew its holdings in 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. WealthShield Partners LLC boosted its holdings in shares of CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after acquiring an additional 490 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after acquiring an additional 534 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of CareTrust REIT by 5.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after acquiring an additional 601 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of CTRE stock traded up $0.08 during trading on Friday, hitting $28.63. The company had a trading volume of 160,683 shares, compared to its average volume of 1,815,968. 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 firm has a market capitalization of $5.49 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The stock's 50-day moving average price is $28.48 and its 200 day moving average price is $27.88. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15.

CareTrust REIT Increases Dividend

The business also recently declared 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 a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Monday, March 31st. CareTrust REIT's payout ratio is 145.65%.

Wall Street Analyst Weigh In

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

CareTrust REIT Company 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.