QSV Equity Investors LLC Takes $1.56 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

QSV Equity Investors LLC purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 57,514 shares of the real estate investment trust’s stock, valued at approximately $1,556,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 443 shares in the last quarter. WealthShield Partners LLC lifted its position in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 490 shares during the last quarter. Quantinno Capital Management LP boosted its stake 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 buying an additional 533 shares in the last quarter. PNC Financial Services Group Inc. grew its position 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 last quarter. Finally, Blue Trust Inc. raised its stake in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

CTRE stock opened at $28.90 on Friday. The company has a market capitalization of $5.42 billion, a P/E ratio of 36.58, a PEG ratio of 1.25 and a beta of 1.11. The company has a fifty day moving average price of $26.86 and a 200-day moving average price of $28.61. 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 52-week low of $23.26 and a 52-week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its 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 return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.64%. CareTrust REIT’s payout ratio is presently 169.62%.

Analyst Ratings Changes

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