Valicenti Advisory Services Inc. Raises Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Valicenti Advisory Services Inc. boosted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,390 shares of the real estate investment trust’s stock after acquiring an additional 1,125 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in CareTrust REIT were worth $849,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after purchasing an additional 670,348 shares during the period. State Street Corp raised its stake in shares of 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 worth $259,255,000 after buying an additional 520,783 shares during the period. JPMorgan Chase & Co. lifted its position in shares of CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares in the last quarter. FMR LLC grew its stake in 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 acquiring an additional 3,538,798 shares during the period. Finally, Geode Capital Management LLC increased its holdings in CareTrust REIT by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after acquiring an additional 258,271 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Down 2.6 %

NASDAQ:CTRE opened at $27.05 on Wednesday. CareTrust REIT, Inc. has a 12-month low of $20.10 and a 12-month high of $33.15. The firm has a market cap of $4.64 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $27.94 and a 200 day moving average price of $28.98.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The company had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. During the same quarter in the previous year, the business posted $0.35 EPS. Sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.29%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. KeyCorp boosted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT has a consensus rating of “Hold” and an average price target of $30.67.

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.