Lightrock Netherlands B.V. Invests $3.76 Million in CareTrust REIT, Inc. (NASDAQ:CTRE)

Lightrock Netherlands B.V. acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 138,120 shares of the real estate investment trust’s stock, valued at approximately $3,755,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRE. Wellington Management Group LLP boosted its holdings in CareTrust REIT by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after acquiring an additional 670,348 shares during the period. State Street Corp boosted its stake in shares of CareTrust REIT by 6.7% in the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after purchasing an additional 520,783 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. FMR LLC increased its stake in CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after buying an additional 3,538,798 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in 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 buying an additional 258,271 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $26.11 on Tuesday. The company has a market cap of $4.48 billion, a P/E ratio of 36.27, a PEG ratio of 1.24 and a beta of 1.09. The firm has a fifty day moving average price of $27.29 and a 200 day moving average price 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, Inc. has a 12 month low of $22.27 and a 12 month high of $33.15.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.44%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, CareTrust REIT presently has an average rating of “Hold” and an average target price 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.