AlphaQuest LLC Sells 47,130 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

AlphaQuest LLC lessened its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 78.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,183 shares of the real estate investment trust’s stock after selling 47,130 shares during the period. AlphaQuest LLC’s holdings in CareTrust REIT were worth $357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WealthShield Partners LLC lifted its holdings in CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 490 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of CareTrust REIT by 3.2% during the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock worth $528,000 after buying an additional 533 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. boosted its position in shares of CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 603 shares during the period. Finally, Pitcairn Co. grew its stake in shares of CareTrust REIT by 5.3% in the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after acquiring an additional 671 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CTRE. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday. Wedbush restated an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday. Wells Fargo & Company cut their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, BMO Capital Markets cut 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 report on Monday, December 9th. 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Trading Up 2.3 %

Shares of CTRE opened at $28.35 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 1.25 and a beta of 1.11. The business’s fifty day moving average is $26.39 and its 200-day moving average is $28.68.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm posted $0.25 earnings per share. Equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.09%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s payout ratio is 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.