41,865 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,865 shares of the real estate investment trust's stock, valued at approximately $1,132,000.

Several other large investors also recently bought and sold shares of CTRE. Signaturefd LLC lifted its stake in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 443 shares in the last quarter. WealthShield Partners LLC increased its holdings in shares of CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock valued at $1,343,000 after acquiring an additional 490 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after buying an additional 534 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after purchasing an additional 601 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 603 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note 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. 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 report on Monday, March 10th. Finally, Royal Bank of Canada dropped their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Trading Down 0.1 %

CTRE traded down $0.03 during trading on Thursday, reaching $29.13. 233,430 shares of the company's stock were exchanged, compared to its average volume of 1,790,032. The stock has a market capitalization of $5.58 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15. 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 fifty day moving average price of $28.05 and a two-hundred day moving average price of $28.14.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is currently 145.65%.

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.