Marshall Wace LLP Sells 1,811,142 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Marshall Wace LLP decreased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 81.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 422,314 shares of the real estate investment trust's stock after selling 1,811,142 shares during the quarter. Marshall Wace LLP owned approximately 0.25% of CareTrust REIT worth $11,424,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTRE. Wells Fargo & Company cut their price objective 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. 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 research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised 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. Finally, Wedbush reaffirmed an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE traded down $0.06 on Friday, reaching $28.10. 583,442 shares of the company's stock were exchanged, compared to its average volume of 1,784,034. CareTrust REIT, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The company has a fifty day moving average of $27.52 and a 200-day moving average of $28.20. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 1.25 and a beta of 0.88. 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 (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS 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 prior year, the business posted $0.25 EPS. On average, research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal 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 issued a $0.335 dividend. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.77%. The ex-dividend date was Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

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.