Aew Capital Management L P Buys 366,400 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Aew Capital Management L P boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 60.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 974,702 shares of the real estate investment trust’s stock after purchasing an additional 366,400 shares during the quarter. CareTrust REIT makes up 1.3% of Aew Capital Management L P’s investment portfolio, making the stock its 21st largest position. Aew Capital Management L P’s holdings in CareTrust REIT were worth $26,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. WealthShield Partners LLC boosted its stake in CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 490 shares during the period. Quantinno Capital Management LP boosted its position in shares of CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of CareTrust REIT by 0.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock valued at $4,678,000 after acquiring an additional 544 shares during the last quarter. Blue Trust Inc. boosted its position in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 603 shares during the last quarter. Finally, Pitcairn Co. boosted its position in shares of CareTrust REIT by 5.3% during the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after acquiring an additional 671 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $25.88 on Friday. The business has a 50 day moving average of $26.55 and a 200 day moving average of $28.82. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.25 and a beta of 1.09. CareTrust REIT, Inc. has a 1-year low of $22.46 and a 1-year high of $33.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.48%. CareTrust REIT’s dividend payout ratio (DPR) is currently 146.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTRE. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Finally, BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.