CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,821 shares of the real estate investment trust’s stock after buying an additional 19,211 shares during the period. Natixis Advisors LLC owned 0.08% of CareTrust REIT worth $3,511,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH boosted its holdings in shares of CareTrust REIT by 13.0% during the 4th quarter. Erste Asset Management GmbH now owns 44,300 shares of the real estate investment trust’s stock worth $1,199,000 after purchasing an additional 5,100 shares during the last quarter. Vestcor Inc grew its holdings in CareTrust REIT by 44.7% in the 4th quarter. Vestcor Inc now owns 193,469 shares of the real estate investment trust’s stock valued at $5,233,000 after buying an additional 59,766 shares in the last quarter. Swiss National Bank increased its stake in shares of CareTrust REIT by 9.4% in the 4th quarter. Swiss National Bank now owns 303,349 shares of the real estate investment trust’s stock worth $8,206,000 after acquiring an additional 26,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CareTrust REIT by 114.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,231 shares of the real estate investment trust’s stock worth $2,089,000 after acquiring an additional 41,272 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in shares of CareTrust REIT by 5.8% during the 4th quarter. Truvestments Capital LLC now owns 120,665 shares of the real estate investment trust’s stock valued at $3,264,000 after acquiring an additional 6,658 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CTRE. Royal Bank of Canada decreased 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. Wells Fargo & Company lowered their price objective on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush reiterated an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Finally, 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 report on Thursday, March 13th. One equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $28.70 on Friday. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 1.25 and a beta of 1.11. The company has a 50-day simple moving average of $26.66 and a 200-day simple moving average of $28.64. 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 (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 quarter in the previous year, the business earned $0.25 earnings per share. On average, analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. The ex-dividend date is Monday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. CareTrust REIT’s dividend payout ratio is 146.84%.

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.