Signaturefd LLC Has $71,000 Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Signaturefd LLC raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,628 shares of the real estate investment trust’s stock after buying an additional 443 shares during the quarter. Signaturefd LLC’s holdings in CareTrust REIT were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after acquiring an additional 5,448,904 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of CareTrust REIT during the third quarter valued at about $7,475,000. Geode Capital Management LLC boosted its position in shares of CareTrust REIT by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of CareTrust REIT by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust’s stock valued at $67,784,000 after buying an additional 126,280 shares during the period. Finally, Tidal Investments LLC bought a new stake in CareTrust REIT in the 3rd quarter valued at about $576,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Trading Up 1.2 %

Shares of CTRE stock opened at $28.98 on Tuesday. 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 company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15. The company has a 50-day simple moving average of $26.71 and a two-hundred day simple moving average of $28.62.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 in the prior year, the business earned $0.25 earnings per share. Research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently announced 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. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.62%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT’s payout ratio is presently 169.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Wedbush restated an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company cut their price target 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 research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.