Lightrock Netherlands B.V. Makes New $3.76 Million Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Lightrock Netherlands B.V. bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 138,120 shares of the real estate investment trust’s stock, valued at approximately $3,755,000. Lightrock Netherlands B.V. owned about 0.08% of CareTrust REIT as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 5,448,904 shares during the last quarter. FMR LLC grew its position in shares of CareTrust REIT by 209.9% in the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Heitman Real Estate Securities LLC acquired a new stake in shares of CareTrust REIT in the third quarter valued at approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after buying an additional 737,236 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after buying an additional 670,348 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.67.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $26.11 on Tuesday. The stock has a fifty day simple moving average of $27.29 and a 200-day simple moving average of $28.96. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.48 billion, a PE ratio of 36.27, a P/E/G ratio of 1.24 and a beta of 1.09. CareTrust REIT, Inc. has a twelve month low of $22.27 and a twelve month high of $33.15.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

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.