World Investment Advisors LLC Invests $407,000 in CareTrust REIT, Inc. (NASDAQ:CTRE)

World Investment Advisors LLC purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,174 shares of the real estate investment trust’s stock, valued at approximately $407,000.

Several other hedge funds also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. bought a new position in shares of CareTrust REIT during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at approximately $34,000. Blue Trust Inc. boosted its holdings in shares of CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 772 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of CareTrust REIT by 5,527.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,990 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Down 0.3 %

Shares of CareTrust REIT stock opened at $28.53 on Wednesday. The business has a fifty day simple moving average of $30.30 and a two-hundred day simple moving average of $28.64. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results 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 business had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same period in the prior year, the business earned $0.35 EPS. Research analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Analyst Upgrades and Downgrades

CTRE has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. KeyCorp increased their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.