Xponance Inc. Has $362,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Xponance Inc. raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 43.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,379 shares of the real estate investment trust’s stock after acquiring an additional 4,062 shares during the period. Xponance Inc.’s holdings in CareTrust REIT were worth $362,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC raised its stake in CareTrust REIT by 251.5% in the fourth quarter. Intech Investment Management LLC now owns 158,642 shares of the real estate investment trust’s stock valued at $4,291,000 after purchasing an additional 113,515 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of CareTrust REIT by 157.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 311,358 shares of the real estate investment trust’s stock valued at $8,422,000 after buying an additional 190,259 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of CareTrust REIT by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,567,009 shares of the real estate investment trust’s stock worth $42,388,000 after acquiring an additional 37,963 shares during the period. Signaturefd LLC boosted its position in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in CareTrust REIT in the fourth quarter valued at approximately $470,000. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

CareTrust REIT Stock Down 0.6 %

NASDAQ:CTRE opened at $28.67 on Thursday. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. 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 company has a market cap of $5.38 billion, a PE ratio of 36.29, a P/E/G ratio of 1.25 and a beta of 1.11. The firm’s 50 day simple moving average is $26.79 and its 200 day simple moving average is $28.62.

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

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.335 dividend. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Monday, March 31st. CareTrust REIT’s payout ratio is currently 169.62%.

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.