Inceptionr LLC Has $2.32 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Inceptionr LLC raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 185.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 85,718 shares of the real estate investment trust’s stock after acquiring an additional 55,676 shares during the period. CareTrust REIT makes up about 0.5% of Inceptionr LLC’s holdings, making the stock its 13th largest position. Inceptionr LLC’s holdings in CareTrust REIT were worth $2,319,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in CareTrust REIT in the fourth quarter valued at approximately $49,048,000. Arizona State Retirement System boosted its position in shares of CareTrust REIT by 9.4% during the fourth quarter. Arizona State Retirement System now owns 44,753 shares of the real estate investment trust’s stock valued at $1,211,000 after buying an additional 3,848 shares during the last quarter. M&T Bank Corp boosted its position in shares of CareTrust REIT by 15.6% during the fourth quarter. M&T Bank Corp now owns 15,356 shares of the real estate investment trust’s stock valued at $415,000 after buying an additional 2,076 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of CareTrust REIT by 5.0% during the fourth quarter. NewSquare Capital LLC now owns 32,230 shares of the real estate investment trust’s stock valued at $872,000 after buying an additional 1,525 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of CareTrust REIT by 8.9% during the fourth quarter. Victory Capital Management Inc. now owns 909,627 shares of the real estate investment trust’s stock valued at $24,605,000 after buying an additional 74,121 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $26.57 on Thursday. The firm has a market cap of $4.99 billion, a PE ratio of 33.63, a PEG ratio of 1.25 and a beta of 1.09. The stock’s fifty day moving average price is $26.49 and its two-hundred day moving average price is $28.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 1 year low of $23.10 and a 1 year high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 period in the prior year, the business earned $0.25 earnings per share. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.37%. CareTrust REIT’s payout ratio is 146.84%.

Wall Street Analyst Weigh In

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