CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Position Increased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,138 shares of the real estate investment trust's stock after buying an additional 17,992 shares during the quarter. State of Tennessee Department of Treasury's holdings in CareTrust REIT were worth $2,087,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Advantage Trust Co purchased a new position in CareTrust REIT in the fourth quarter worth approximately $30,000. Versant Capital Management Inc raised its holdings in CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 743 shares during the period. Blue Trust Inc. lifted its position in 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 last quarter. Signaturefd LLC increased its position in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 443 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after acquiring an additional 790 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 0.6 %

CareTrust REIT stock traded down $0.19 during trading on Thursday, hitting $29.09. The company's stock had a trading volume of 1,812,340 shares, compared to its average volume of 1,788,795. The stock's fifty day moving average is $27.81 and its 200 day moving average is $28.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 1-year low of $24.35 and a 1-year high of $33.15. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released 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 last year, the company earned $0.25 EPS. As a group, equities research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently announced 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 is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.61%. CareTrust REIT's payout ratio is presently 169.62%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTRE shares. Wedbush restated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research 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 for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada lowered 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. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.