NewSquare Capital LLC Increases Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

NewSquare Capital LLC increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 32,230 shares of the real estate investment trust’s stock after acquiring an additional 1,525 shares during the period. NewSquare Capital LLC’s holdings in CareTrust REIT were worth $872,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CTRE. Advantage Trust Co purchased a new stake in CareTrust REIT during the 4th quarter worth $30,000. Versant Capital Management Inc boosted its position in 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 valued at $40,000 after buying an additional 743 shares during the last quarter. Blue Trust Inc. boosted its position in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in 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 valued at $63,000 after buying an additional 1,990 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in CareTrust REIT in the 3rd quarter valued at about $80,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. BMO Capital Markets cut shares of 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 research report on Monday, December 9th. Finally, Royal Bank of Canada decreased their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.83.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $26.57 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a one year low of $23.10 and a one year high of $33.15. The company’s 50-day simple moving average is $26.49 and its 200-day simple moving average is $28.80. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $0.25 EPS. Equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.37%. CareTrust REIT’s dividend payout ratio (DPR) is 146.84%.

About CareTrust REIT

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.