Daiwa Securities Group Inc. Reduces Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Daiwa Securities Group Inc. decreased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,035 shares of the real estate investment trust’s stock after selling 28,233 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.13% of CareTrust REIT worth $5,898,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. WealthShield Partners LLC raised its holdings in CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 490 shares in the last quarter. Quantinno Capital Management LP raised its stake in CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 533 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 534 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock valued at $4,678,000 after acquiring an additional 544 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Royal Bank of Canada lowered their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.33.

CareTrust REIT Trading Up 3.5 %

NASDAQ:CTRE opened at $26.97 on Thursday. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $26.37 and its 200-day simple moving average is $28.70. The firm has a market cap of $5.06 billion, a P/E ratio of 34.14, a PEG ratio of 1.25 and a beta of 1.11.

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 (EPS) for the quarter, missing the consensus estimate 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 last year, the firm earned $0.25 earnings per share. Equities analysts anticipate 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 given a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.30%. CareTrust REIT’s payout ratio is currently 146.84%.

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.