Capital Square LLC Purchases 4,466 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Capital Square LLC increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 100,112 shares of the real estate investment trust’s stock after buying an additional 4,466 shares during the quarter. CareTrust REIT makes up about 1.5% of Capital Square LLC’s investment portfolio, making the stock its 11th largest position. Capital Square LLC’s holdings in CareTrust REIT were worth $2,694,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CTRE. Vanguard Group Inc. boosted its position in shares of CareTrust REIT by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock worth $738,482,000 after acquiring an additional 4,263,097 shares during the last quarter. FMR LLC increased its stake in CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock worth $214,586,000 after acquiring an additional 2,708,050 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CareTrust REIT by 381.2% in 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 purchasing an additional 5,448,904 shares in the last quarter. Geode Capital Management LLC raised its stake in CareTrust REIT by 23.8% during the fourth quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust’s stock valued at $125,006,000 after purchasing an additional 887,665 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in CareTrust REIT by 24.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust’s stock valued at $78,220,000 after purchasing an additional 568,634 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. Wedbush reiterated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Wells Fargo & Company lowered their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada dropped their target price 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Price Performance

Shares of CTRE opened at $28.66 on Thursday. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The company has a 50 day moving average of $27.21 and a two-hundred day moving average of $28.33. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

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 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 quarter in the previous year, the company posted $0.25 EPS. As a group, analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.335 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.68%. CareTrust REIT’s payout ratio is 169.62%.

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.