Schroder Investment Management Group Acquires New Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Schroder Investment Management Group acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,779 shares of the real estate investment trust's stock, valued at approximately $657,000.

Other institutional investors have also recently made changes to their positions in the company. Advantage Trust Co acquired a new position in shares of CareTrust REIT in the fourth quarter worth $30,000. Versant Capital Management Inc boosted its holdings in CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 743 shares during the period. Blue Trust Inc. grew its stake in CareTrust REIT by 50.0% during the 4th 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 in the last quarter. Signaturefd LLC increased its holdings in 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 purchasing an additional 443 shares during the period. Finally, GAMMA Investing LLC raised its position in CareTrust REIT by 24.4% in the 4th quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Up 1.3 %

Shares of NASDAQ CTRE traded up $0.37 during mid-day trading on Friday, reaching $28.04. The company had a trading volume of 1,534,135 shares, compared to its average volume of 1,758,575. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15. The stock has a market cap of $5.26 billion, a P/E ratio of 35.49, 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. The firm has a 50 day simple moving average of $27.09 and a two-hundred day simple moving average of $28.36.

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 (EPS) for the quarter, missing analysts' consensus estimates 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. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be 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 dividend yield of 4.78%. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is 169.62%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price 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. Wedbush reiterated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada dropped their target price on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of "Moderate Buy" and a consensus price target 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.