Valicenti Advisory Services Inc. Raises Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Valicenti Advisory Services Inc. lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,390 shares of the real estate investment trust’s stock after buying an additional 1,125 shares during the period. Valicenti Advisory Services Inc.’s holdings in CareTrust REIT were worth $849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. Robeco Institutional Asset Management B.V. purchased a new position in shares of CareTrust REIT during the fourth quarter worth about $300,000. KBC Group NV boosted its position in shares of CareTrust REIT by 57.7% in the 4th quarter. KBC Group NV now owns 5,573 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 2,039 shares during the period. Blue Trust Inc. grew its stake 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 during the last quarter. Sound Income Strategies LLC increased its position in CareTrust REIT by 11.4% during the fourth quarter. Sound Income Strategies LLC now owns 462,096 shares of the real estate investment trust’s stock worth $12,500,000 after buying an additional 47,292 shares during the period. Finally, Inspire Investing LLC lifted its stake in CareTrust REIT by 11.4% in the fourth quarter. Inspire Investing LLC now owns 14,848 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 1,522 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRE has been the subject of several research analyst reports. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. KeyCorp increased their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.67.

CareTrust REIT Stock Down 2.6 %

CTRE stock opened at $27.05 on Wednesday. The stock has a market capitalization of $4.64 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The company has a fifty day moving average of $27.94 and a 200-day moving average of $28.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.29%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

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.