CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Milestone Asset Management LLC

Milestone Asset Management LLC lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 31,910 shares of the real estate investment trust’s stock after buying an additional 1,071 shares during the period. Milestone Asset Management LLC’s holdings in CareTrust REIT were worth $863,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT in the 2nd quarter worth $27,000. Blue Trust Inc. increased its position in shares of CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares during the last quarter. Versant Capital Management Inc increased its position in shares of CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 743 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of CareTrust REIT by 5,527.8% in 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 purchasing an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of CareTrust REIT by 55.0% in the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 775 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

CTRE has been the subject of a number of recent research reports. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. KeyCorp upped their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets cut 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Hold” and an average price target of $30.67.

CareTrust REIT Trading Down 3.4 %

Shares of NASDAQ:CTRE opened at $26.24 on Thursday. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The firm has a market cap of $4.50 billion, a P/E ratio of 36.44, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a 50 day moving average of $27.85 and a 200-day moving average of $28.96. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal 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. This represents a $1.16 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s payout ratio is 161.11%.

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.