CareTrust REIT, Inc. (NASDAQ:CTRE) Stake Decreased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lessened its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,065 shares of the real estate investment trust’s stock after selling 19,579 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in CareTrust REIT were worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of CareTrust REIT by 5.5% during the third 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 buying an additional 670,348 shares during the last quarter. State Street Corp raised its holdings in CareTrust REIT by 6.7% during the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock worth $259,255,000 after purchasing an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. FMR LLC raised its holdings in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in CareTrust REIT by 7.4% during the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $28.70 on Friday. The stock has a market capitalization of $5.39 billion, a P/E ratio of 36.33, a P/E/G ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 1 year low of $23.26 and a 1 year high of $33.15. The business’s fifty day moving average is $26.66 and its two-hundred day moving average is $28.64. 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 (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) 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 earnings per share. On average, research analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 4.67%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT’s payout ratio is presently 146.84%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several recent analyst reports. Wedbush reissued an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Wells Fargo & Company dropped their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada dropped their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.