Aew Capital Management L P Buys 366,400 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Aew Capital Management L P raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 60.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 974,702 shares of the real estate investment trust’s stock after acquiring an additional 366,400 shares during the period. CareTrust REIT comprises approximately 1.3% of Aew Capital Management L P’s investment portfolio, making the stock its 21st largest holding. Aew Capital Management L P owned 0.57% of CareTrust REIT worth $26,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CTRE. Advantage Trust Co bought a new position in CareTrust REIT during the 4th quarter valued at $30,000. Blue Trust Inc. lifted its stake in CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 772 shares in the last quarter. Versant Capital Management Inc lifted its stake in CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 743 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of CareTrust REIT during the 3rd quarter valued at $80,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Trading Down 0.6 %

Shares of CTRE opened at $25.88 on Friday. The business has a 50-day moving average of $26.55 and a 200 day moving average of $28.82. CareTrust REIT, Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $33.15. The firm has a market cap of $4.86 billion, a P/E ratio of 32.75, 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.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 business posted $0.25 earnings per share. As a group, research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.48%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is currently 146.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Royal Bank of Canada decreased their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Finally, Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One investment 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.83.

CareTrust REIT Company 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.