CareTrust REIT, Inc. (NASDAQ:CTRE) Position Cut by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lowered its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 98.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,300 shares of the real estate investment trust’s stock after selling 1,322,536 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in CareTrust REIT were worth $495,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of CareTrust REIT by 264.9% during the third quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust’s stock valued at $8,017,000 after buying an additional 188,622 shares during the last quarter. Tidal Investments LLC acquired a new position in CareTrust REIT during the 3rd quarter worth $576,000. Franklin Resources Inc. grew its stake in shares of CareTrust REIT by 2.3% in the third quarter. Franklin Resources Inc. now owns 58,065 shares of the real estate investment trust’s stock worth $1,754,000 after purchasing an additional 1,318 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of CareTrust REIT by 5.2% during the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after purchasing an additional 41,623 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 0.7 %

NASDAQ CTRE opened at $29.14 on Friday. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The company has a market capitalization of $5.59 billion, a P/E ratio of 36.89, a PEG ratio of 1.25 and a beta of 0.88. The company’s 50 day simple moving average is $28.16 and its 200 day simple moving average is $28.10. 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 (NASDAQ:CTRE) last posted its quarterly 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 firm posted $0.25 earnings per share. Equities research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.335 dividend. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.60%. CareTrust REIT’s dividend payout ratio (DPR) is 145.65%.

Analysts Set New Price Targets

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

About CareTrust REIT

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.