Inspire Investing LLC Has $402,000 Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Inspire Investing LLC lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,848 shares of the real estate investment trust’s stock after buying an additional 1,522 shares during the quarter. Inspire Investing LLC’s holdings in CareTrust REIT were worth $402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at about $27,000. Blue Trust Inc. lifted its stake in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 772 shares during the period. Versant Capital Management Inc grew its position in shares of CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 743 shares during the period. Loomis Sayles & Co. L P grew its position in shares of CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,990 shares during the period. Finally, Signaturefd LLC lifted its position in shares of CareTrust REIT by 55.0% during the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 775 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $26.93 on Friday. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $28.07 and a 200-day moving average price of $28.94. The company has a market cap of $4.62 billion, a PE ratio of 37.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the previous year, the company posted $0.35 earnings per share. Equities analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared 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. This represents a $1.16 annualized dividend and a yield of 4.31%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Analysts Set New Price Targets

CTRE has been the subject of a number of research reports. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp boosted their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. Finally, BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT has a consensus rating of “Hold” and a consensus price target of $30.67.

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.