EntryPoint Capital LLC Takes Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

EntryPoint Capital LLC bought a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) during the fourth quarter, Holdings Channel reports. The firm bought 10,644 shares of the real estate investment trust’s stock, valued at approximately $288,000.

A number of other hedge funds also recently made changes to their positions in CTRE. Signaturefd LLC increased its stake in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares during the last quarter. WealthShield Partners LLC grew its holdings in shares of 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 valued at $1,343,000 after purchasing an additional 490 shares in the last quarter. 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 last quarter. PNC Financial Services Group Inc. lifted its position in CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 534 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of 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 worth $49,000 after buying an additional 603 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 0.3 %

Shares of NASDAQ CTRE opened at $28.60 on Friday. The business’s 50 day moving average price is $26.82 and its 200-day moving average price 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 debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.25 and a beta of 1.11.

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 previous year, the business posted $0.25 earnings per share. On average, sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business 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 $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.69%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT’s payout ratio is 169.62%.

Analyst Ratings Changes

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