CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Milestone Asset Management LLC

Milestone Asset Management LLC boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,910 shares of the real estate investment trust’s stock after purchasing an additional 1,071 shares during the period. Milestone Asset Management LLC’s holdings in CareTrust REIT were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the 2nd quarter valued at approximately $27,000. Blue Trust Inc. lifted its position in shares of 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 during the period. Versant Capital Management Inc lifted its position in shares of 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 during the period. Loomis Sayles & Co. L P lifted its position in shares of 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 during the period. Finally, Signaturefd LLC increased its stake in shares of CareTrust REIT by 55.0% during the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 775 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CTRE shares. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. KeyCorp raised their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.67.

CareTrust REIT Stock Down 3.4 %

CTRE stock opened at $26.24 on Thursday. The stock has a market capitalization of $4.50 billion, a P/E ratio of 36.44, a PEG ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15. The company has a 50 day moving average price of $27.85 and a two-hundred day moving average price of $28.96.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same quarter last year, the business earned $0.35 EPS. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.42%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

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.