MetLife Investment Management LLC Has $3.16 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

MetLife Investment Management LLC boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,827 shares of the real estate investment trust's stock after acquiring an additional 31,158 shares during the period. MetLife Investment Management LLC owned 0.07% of CareTrust REIT worth $3,160,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norinchukin Bank The grew its stake in shares of CareTrust REIT by 18.7% in the fourth quarter. Norinchukin Bank The now owns 8,280 shares of the real estate investment trust's stock worth $224,000 after acquiring an additional 1,306 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CareTrust REIT by 15.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,443,829 shares of the real estate investment trust's stock worth $66,105,000 after purchasing an additional 325,217 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of CareTrust REIT by 21.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 406,137 shares of the real estate investment trust's stock valued at $10,976,000 after buying an additional 71,028 shares during the last quarter. Capital Square LLC lifted its stake in shares of CareTrust REIT by 4.7% in the fourth quarter. Capital Square LLC now owns 100,112 shares of the real estate investment trust's stock valued at $2,694,000 after buying an additional 4,466 shares during the period. Finally, NewEdge Advisors LLC increased its stake in CareTrust REIT by 6.8% during the fourth quarter. NewEdge Advisors LLC now owns 30,220 shares of the real estate investment trust's stock valued at $817,000 after acquiring an additional 1,936 shares during the period. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded up $0.49 during trading on Wednesday, reaching $29.28. The company had a trading volume of 1,439,695 shares, compared to its average volume of 1,783,132. CareTrust REIT, Inc. has a 52 week low of $24.35 and a 52 week high of $33.15. 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 business's 50 day moving average price is $27.64 and its 200-day moving average price is $28.19. The stock has a market cap of $5.49 billion, a PE ratio of 37.06, a PEG ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the firm earned $0.25 earnings per share. Analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 4.58%. The ex-dividend date was Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is currently 169.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTRE. Wells Fargo & Company reduced their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. 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 research note on Thursday, March 13th. Royal Bank of Canada reduced their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Finally, Wedbush reiterated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CareTrust REIT has an average rating of "Moderate Buy" and an average target price of $31.00.

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.