CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 14.5% during the 4th quarter, Holdings Channel reports. The fund owned 10,943,891 shares of the real estate investment trust’s stock after selling 1,854,164 shares during the quarter. Wellington Management Group LLP owned approximately 0.06% of CareTrust REIT worth $296,032,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CTRE. Signaturefd LLC boosted its position in shares of CareTrust REIT by 20.3% during 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 in the last quarter. WealthShield Partners LLC lifted its stake in CareTrust REIT by 1.0% during 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 last quarter. Quantinno Capital Management LP boosted its holdings 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 valued at $528,000 after purchasing an additional 533 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in CareTrust REIT by 4.9% in 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, O Shaughnessy Asset Management LLC raised its holdings in CareTrust REIT by 5.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Down 0.5 %

CTRE opened at $28.43 on Wednesday. The business has a 50 day moving average price of $26.92 and a two-hundred day moving average price of $28.55. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The company has a market cap of $5.34 billion, a PE ratio of 35.99, a P/E/G ratio of 1.25 and a beta of 1.11. 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 issued its quarterly earnings results 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 return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the company earned $0.25 EPS. As a group, research analysts anticipate 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.71%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT’s payout ratio is 169.62%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CTRE shares. Wedbush reaffirmed an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Wells Fargo & Company reduced their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, March 13th. Finally, Royal Bank of Canada decreased 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.00.

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.