Vanguard Group Inc. Purchases 4,263,097 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Vanguard Group Inc. grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 18.5% during the 4th quarter, Holdings Channel reports. The firm owned 27,300,633 shares of the real estate investment trust’s stock after purchasing an additional 4,263,097 shares during the period. Vanguard Group Inc. owned approximately 0.16% of CareTrust REIT worth $738,482,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CTRE. Citigroup Inc. boosted its stake in CareTrust REIT by 8.1% in the third quarter. Citigroup Inc. now owns 198,070 shares of the real estate investment trust’s stock valued at $6,112,000 after acquiring an additional 14,801 shares during the last quarter. Bank of Montreal Can boosted its position in shares of CareTrust REIT by 18.3% in the 3rd quarter. Bank of Montreal Can now owns 98,960 shares of the real estate investment trust’s stock worth $3,044,000 after purchasing an additional 15,328 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of CareTrust REIT by 9.2% during the third quarter. The Manufacturers Life Insurance Company now owns 82,934 shares of the real estate investment trust’s stock worth $2,559,000 after purchasing an additional 6,979 shares during the period. FMR LLC increased its holdings in CareTrust REIT by 209.9% in the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in CareTrust REIT by 5.4% in the third quarter. D.A. Davidson & CO. now owns 38,120 shares of the real estate investment trust’s stock valued at $1,176,000 after buying an additional 1,948 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTRE shares. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Wells Fargo & Company cut 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 reissued an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, March 13th. Finally, Royal Bank of Canada decreased their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CareTrust REIT has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Stock Up 1.2 %

CareTrust REIT stock opened at $28.90 on Monday. The company has a 50 day moving average of $26.86 and a 200-day moving average of $28.59. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The stock has a market capitalization of $5.42 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 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 quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts anticipate 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 will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Monday, March 31st. CareTrust REIT’s dividend payout ratio is currently 169.62%.

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.