WealthShield Partners LLC Boosts Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

WealthShield Partners LLC raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,119 shares of the real estate investment trust’s stock after purchasing an additional 490 shares during the period. WealthShield Partners LLC’s holdings in CareTrust REIT were worth $1,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advantage Trust Co purchased a new position in shares of CareTrust REIT in the fourth quarter worth about $30,000. Blue Trust Inc. lifted its stake in shares of CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 772 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 743 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,990 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 775 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTRE shares. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reduced 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 note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.83.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $25.06 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm’s 50-day moving average is $26.66 and its two-hundred day moving average is $28.87. CareTrust REIT, Inc. has a 12 month low of $22.46 and a 12 month high of $33.15. The company has a market capitalization of $4.70 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS 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 quarter in the previous year, the company earned $0.25 EPS. Analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 146.84%.

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.