Moran Wealth Management LLC Sells 433 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Moran Wealth Management LLC lessened its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,256 shares of the real estate investment trust’s stock after selling 433 shares during the period. Moran Wealth Management LLC’s holdings in CareTrust REIT were worth $1,603,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CTRE. JPMorgan Chase & Co. boosted its position in 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 buying an additional 5,448,904 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of CareTrust REIT by 22.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock worth $13,264,000 after acquiring an additional 78,560 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in CareTrust REIT during the 3rd quarter worth approximately $7,475,000. Principal Financial Group Inc. grew its position in CareTrust REIT by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock worth $25,870,000 after acquiring an additional 41,623 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $26.05 on Wednesday. The business’s 50-day simple moving average is $26.39 and its 200 day simple moving average is $28.72. 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 stock has a market cap of $4.89 billion, a price-to-earnings ratio of 32.97, a P/E/G ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last issued 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 quarter in the prior year, the business posted $0.25 earnings per share. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 146.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTRE. Royal Bank of Canada decreased their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.33.

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.