CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 54,806 shares of the real estate investment trust’s stock after acquiring an additional 9,998 shares during the period. Amalgamated Bank’s holdings in CareTrust REIT were worth $1,483,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthShield Partners LLC raised its holdings in shares of CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 490 shares during the period. Quantinno Capital Management LP grew its position in CareTrust REIT by 3.2% in the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in CareTrust REIT by 0.4% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after purchasing an additional 544 shares during the period. Blue Trust Inc. lifted its holdings in CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares in the last quarter. Finally, Pitcairn Co. raised 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.

CareTrust REIT Trading Down 0.6 %

NASDAQ CTRE opened at $25.88 on Monday. CareTrust REIT, Inc. has a 12 month low of $22.46 and a 12 month high of $33.15. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm’s fifty day moving average price is $26.53 and its 200 day moving average price is $28.81.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $0.25 EPS. On average, sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada lowered their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.83.

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.