CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,034,814 shares of the real estate investment trust’s stock after acquiring an additional 196,508 shares during the quarter. Principal Financial Group Inc.’s holdings in CareTrust REIT were worth $27,992,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CTRE. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 5,448,904 shares during the last quarter. FMR LLC boosted its position in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after acquiring an additional 3,538,798 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new stake in CareTrust REIT during the third quarter worth approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after acquiring an additional 737,236 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after acquiring an additional 670,348 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Down 2.8 %

Shares of CTRE opened at $24.90 on Friday. The firm has a market cap of $4.67 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The company’s fifty day moving average is $26.73 and its two-hundred day moving average is $28.88. CareTrust REIT, Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $33.15. 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 (NASDAQ:CTRE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 last year, the business posted $0.25 EPS. Analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.66%. CareTrust REIT’s payout ratio is 146.84%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CTRE shares. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada decreased their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.83.

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.