Kennedy Capital Management LLC Cuts Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Kennedy Capital Management LLC cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 49.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,477 shares of the real estate investment trust’s stock after selling 64,040 shares during the quarter. Kennedy Capital Management LLC’s holdings in CareTrust REIT were worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital Fund Management S.A. bought a new stake in CareTrust REIT in the fourth quarter worth about $1,594,000. Raymond James Financial Inc. purchased a new stake in shares of CareTrust REIT during the 4th quarter worth approximately $49,048,000. Martingale Asset Management L P raised its holdings in shares of CareTrust REIT by 396.7% in the 4th quarter. Martingale Asset Management L P now owns 126,158 shares of the real estate investment trust’s stock worth $3,413,000 after purchasing an additional 100,757 shares during the period. Renaissance Technologies LLC lifted its stake in CareTrust REIT by 63.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,419,738 shares of the real estate investment trust’s stock valued at $38,404,000 after purchasing an additional 550,900 shares during the last quarter. Finally, FIL Ltd grew its holdings in CareTrust REIT by 5,870.5% during the fourth quarter. FIL Ltd now owns 126,456 shares of the real estate investment trust’s stock valued at $3,421,000 after purchasing an additional 124,338 shares during the period. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Up 0.4 %

Shares of NASDAQ CTRE opened at $28.19 on Tuesday. 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 company has a market cap of $5.29 billion, a P/E ratio of 35.68, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The business has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $28.33.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 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 previous year, the firm posted $0.25 EPS. Research analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Monday, March 31st. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio (DPR) is 169.62%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several research reports. Royal Bank of Canada lowered their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wedbush restated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, March 13th. Finally, Wells Fargo & Company reduced their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.