World Investment Advisors Increases Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

World Investment Advisors increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 63.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,486 shares of the real estate investment trust’s stock after purchasing an additional 8,312 shares during the quarter. World Investment Advisors’ holdings in CareTrust REIT were worth $581,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CTRE. JPMorgan Chase & Co. raised its stake in shares of 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 valued at $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. Geode Capital Management LLC raised its position in CareTrust REIT by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CareTrust REIT by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust’s stock worth $67,784,000 after buying an additional 126,280 shares during the period. Tidal Investments LLC bought a new position in shares of CareTrust REIT during the 3rd quarter worth $576,000. Finally, Rhumbline Advisers increased its stake in shares of CareTrust REIT by 26.9% during the fourth quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust’s stock valued at $15,491,000 after buying an additional 121,328 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTRE shares. Wells Fargo & Company lowered their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note 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 target for the company in a research report on Thursday, March 13th. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Wedbush restated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Finally, BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. One 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $26.73 on Tuesday. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The firm’s fifty day simple moving average is $27.01 and its two-hundred day simple moving average is $28.47. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $5.02 billion, a P/E ratio of 33.84, a P/E/G ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE) last announced its 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 last year, the business earned $0.25 EPS. Analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.335 dividend. The ex-dividend date is Monday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 5.01%. CareTrust REIT’s dividend payout ratio (DPR) is 169.62%.

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.