Voya Investment Management LLC Has $3.18 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Voya Investment Management LLC increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 144.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,559 shares of the real estate investment trust's stock after acquiring an additional 69,447 shares during the period. Voya Investment Management LLC owned approximately 0.07% of CareTrust REIT worth $3,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in CareTrust REIT by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock worth $67,784,000 after purchasing an additional 126,280 shares during the period. Tidal Investments LLC purchased a new stake in shares of CareTrust REIT in the 3rd quarter valued at approximately $576,000. Corient Private Wealth LLC boosted its holdings in shares of CareTrust REIT by 9.2% in the 4th quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock valued at $608,000 after buying an additional 1,903 shares in the last quarter. Finally, Rhumbline Advisers increased its position in CareTrust REIT by 26.9% during the fourth quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust's stock worth $15,491,000 after buying an additional 121,328 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

NASDAQ CTRE traded down $0.23 during trading on Thursday, reaching $28.93. The company's stock had a trading volume of 170,111 shares, compared to its average volume of 1,789,848. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market capitalization of $5.55 billion, a PE ratio of 36.62, a P/E/G ratio of 1.25 and a beta of 0.88. The firm has a fifty day moving average of $28.05 and a 200 day moving average of $28.14. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data 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 in the previous year, the company earned $0.25 EPS. Analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.63%. CareTrust REIT's dividend payout ratio (DPR) is 145.65%.

Analysts Set New Price Targets

A number of research firms have issued reports on CTRE. 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 report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. Wedbush restated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

About CareTrust REIT

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.