CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 144.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 458,744 shares of the real estate investment trust’s stock after acquiring an additional 270,951 shares during the period. D. E. Shaw & Co. Inc.’s holdings in CareTrust REIT were worth $12,409,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its position in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 443 shares in the last quarter. WealthShield Partners LLC raised its holdings in shares of 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 acquiring an additional 490 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 534 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 601 shares during the period. Finally, Blue Trust Inc. increased its position in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Down 1.2%

NASDAQ:CTRE opened at $28.31 on Wednesday. CareTrust REIT, Inc. has a 52 week low of $24.35 and a 52 week high of $33.15. 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’s fifty day moving average is $28.26 and its two-hundred day moving average is $28.07. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results 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 net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the company earned $0.25 earnings per share. Research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.335 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.73%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s payout ratio is 145.65%.

Analysts Set New Price Targets

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

CareTrust REIT 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.