William Blair Investment Management LLC Purchases 37,963 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

William Blair Investment Management LLC boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,567,009 shares of the real estate investment trust’s stock after acquiring an additional 37,963 shares during the period. William Blair Investment Management LLC owned 0.91% of CareTrust REIT worth $42,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRE. JPMorgan Chase & Co. raised its stake in CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after acquiring an additional 5,448,904 shares during the period. FMR LLC grew its holdings in CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after buying an additional 3,538,798 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CareTrust REIT during the 4th quarter valued at approximately $49,048,000. Heitman Real Estate Securities LLC purchased a new stake in CareTrust REIT during the 3rd quarter valued at approximately $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CareTrust REIT by 344.0% during the 3rd 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 valued at $29,364,000 after buying an additional 737,236 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush reaffirmed an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Thursday, March 13th. One 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. According to MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $28.81 on Tuesday. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 1.25 and a beta of 1.11. 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 stock’s 50-day simple moving average is $26.47 and its 200-day simple moving average is $28.65.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 EPS. As a group, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

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.