CareTrust REIT, Inc. (NASDAQ:CTRE) Position Raised by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,000 shares of the real estate investment trust’s stock after purchasing an additional 55,000 shares during the period. Lighthouse Investment Partners LLC owned 0.22% of CareTrust REIT worth $10,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRE. Advantage Trust Co bought a new stake in CareTrust REIT during the fourth quarter worth approximately $30,000. Blue Trust Inc. increased its holdings 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 buying an additional 603 shares in the last quarter. Quarry LP increased its holdings in shares of CareTrust REIT by 463.5% in the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,525 shares in the last quarter. Signaturefd LLC increased its holdings in shares of CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 443 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of CareTrust REIT by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 1,806 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.7%

NASDAQ CTRE opened at $29.14 on Monday. CareTrust REIT, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 1.25 and a beta of 0.88. The firm’s 50 day moving average price is $28.16 and its two-hundred day moving average price is $28.08.

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

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 4.60%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. CareTrust REIT’s payout ratio is presently 145.65%.

Analysts Set New Price Targets

Several research firms have issued reports on CTRE. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Wedbush reaffirmed an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus target price 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.