Caisse Des Depots ET Consignations Purchases New Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Caisse Des Depots ET Consignations bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, HoldingsChannel reports. The fund bought 89,881 shares of the real estate investment trust’s stock, valued at approximately $2,431,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in CareTrust REIT by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock worth $738,482,000 after purchasing an additional 4,263,097 shares during the last quarter. Wellington Management Group LLP raised its holdings in CareTrust REIT by 5.5% in 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 acquiring an additional 670,348 shares in the last quarter. State Street Corp boosted its stake in CareTrust REIT by 6.7% during the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after acquiring an additional 520,783 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of CareTrust REIT by 381.2% in the 3rd 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 during the last quarter. Finally, FMR LLC raised its stake in shares of CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $28.60 on Friday. The stock has a market cap of $5.37 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.25 and a beta of 1.11. The firm’s 50-day simple moving average is $26.82 and its 200 day simple moving average is $28.62. 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 quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS 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 quarter in the prior year, the company earned $0.25 EPS. Equities analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Monday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 169.62%.

Wall Street Analysts Forecast Growth

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

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.