1,813,253 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,813,253 shares of the real estate investment trust’s stock, valued at approximately $49,048,000. Raymond James Financial Inc. owned 1.06% of CareTrust REIT as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthShield Partners LLC increased its position in CareTrust REIT by 1.0% in the fourth 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 increased its position in CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock worth $528,000 after purchasing an additional 533 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew 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 worth $4,678,000 after buying an additional 544 shares during the period. Blue Trust Inc. grew 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 worth $49,000 after buying an additional 603 shares during the period. Finally, Pitcairn Co. grew 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 worth $415,000 after buying an additional 671 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CTRE. Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. Royal Bank of Canada decreased their target price 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 lowered 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Hold” and an average target price of $30.33.

CareTrust REIT Trading Up 0.9 %

NASDAQ:CTRE opened at $26.05 on Wednesday. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week 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. The stock has a market capitalization of $4.89 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The business’s 50-day simple moving average is $26.39 and its 200-day simple moving average is $28.72.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same period in the prior year, the firm posted $0.25 EPS. Sell-side analysts expect 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. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

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.