Magnetar Financial LLC Buys New Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Magnetar Financial LLC purchased a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 61,147 shares of the real estate investment trust’s stock, valued at approximately $1,654,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC grew its position in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 443 shares during the last quarter. WealthShield Partners LLC grew its position in 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 worth $1,343,000 after purchasing an additional 490 shares during the last quarter. 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 worth $528,000 after purchasing an additional 533 shares during the last quarter. PNC Financial Services Group Inc. grew its position in CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 534 shares during the last quarter. Finally, Blue Trust Inc. grew its position in CareTrust REIT by 50.0% in the 4th 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 institutional investors and hedge funds.

CareTrust REIT Trading Down 0.5 %

Shares of NASDAQ CTRE opened at $28.99 on Friday. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. The company has a market cap of $5.44 billion, a PE ratio of 36.69, a P/E/G ratio of 1.25 and a beta of 1.11. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $26.60 and a two-hundred day moving average of $28.65.

CareTrust REIT (NASDAQ:CTRE) last announced its 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 in the prior year, the company earned $0.25 earnings per share. As a group, equities analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.62%. CareTrust REIT’s payout ratio is currently 146.84%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CTRE shares. Royal Bank of Canada reduced their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday, March 13th. Wells Fargo & Company cut their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Wedbush reaffirmed an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.