Farther Finance Advisors LLC Raises Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Farther Finance Advisors LLC lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 15,783 shares of the real estate investment trust’s stock after acquiring an additional 2,526 shares during the period. Farther Finance Advisors LLC’s holdings in CareTrust REIT were worth $427,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. WealthShield Partners LLC lifted its holdings in CareTrust REIT by 1.0% in the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock valued at $1,343,000 after acquiring an additional 490 shares during the period. Quantinno Capital Management LP lifted its holdings in CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 534 shares during the period. Blue Trust Inc. lifted its holdings in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 603 shares during the period. Finally, Pitcairn Co. lifted its holdings in CareTrust REIT by 5.3% in the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after acquiring an additional 671 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 2.3 %

Shares of CTRE opened at $28.35 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 1.25 and a beta of 1.11. The stock has a 50 day moving average price of $26.42 and a 200 day moving average price of $28.66.

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 the consensus estimate 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 in the previous year, the firm earned $0.25 EPS. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Royal Bank of Canada reduced 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 set a $26.00 target price on shares of CareTrust REIT in a research note on Friday. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, 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. One 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.