NewSquare Capital LLC Increases Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

NewSquare Capital LLC lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,230 shares of the real estate investment trust’s stock after acquiring an additional 1,525 shares during the quarter. NewSquare Capital LLC’s holdings in CareTrust REIT were worth $872,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after buying an additional 670,348 shares in the last quarter. State Street Corp lifted its stake in CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after buying an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares in the last quarter. FMR LLC lifted its stake in CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after buying an additional 3,538,798 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CareTrust REIT by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after buying an additional 258,271 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CTRE shares. Royal Bank of Canada reduced their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their target price for the company 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 assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.83.

CareTrust REIT Trading Up 0.9 %

Shares of CTRE opened at $26.57 on Thursday. The company has a market capitalization of $4.99 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a fifty day moving average of $26.49 and a two-hundred day moving average of $28.80. CareTrust REIT, Inc. has a fifty-two week low of $23.10 and a fifty-two week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data 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 period last year, the company earned $0.25 EPS. As a group, analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued 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%.

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.