Erste Asset Management GmbH Buys 5,100 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Erste Asset Management GmbH raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 13.0% during the fourth quarter, Holdings Channel reports. The firm owned 44,300 shares of the real estate investment trust’s stock after buying an additional 5,100 shares during the quarter. Erste Asset Management GmbH’s holdings in CareTrust REIT were worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTRE. Advantage Trust Co bought a new stake in shares of CareTrust REIT during the 4th quarter valued at about $30,000. Versant Capital Management Inc boosted its position 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. Blue Trust Inc. grew its holdings in shares of CareTrust REIT by 50.0% during the 4th 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 during the period. Loomis Sayles & Co. L P raised its position in shares of CareTrust REIT by 5,527.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of CareTrust REIT in the 3rd quarter valued at approximately $80,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.35 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The company’s 50-day moving average is $26.39 and its 200 day moving average is $28.68.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 146.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTRE shares. Royal Bank of Canada reduced their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company decreased their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday. Wedbush restated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday. Finally, BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.