Jackson Creek Investment Advisors LLC Makes New $1.42 Million Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Jackson Creek Investment Advisors LLC purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 52,443 shares of the real estate investment trust’s stock, valued at approximately $1,419,000.

A number of other institutional investors have also recently modified their holdings of CTRE. Advantage Trust Co acquired a new stake in CareTrust REIT in the fourth quarter valued at $30,000. Versant Capital Management Inc increased its holdings in shares of CareTrust REIT by 98.8% in 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 purchasing an additional 743 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 603 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,990 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in CareTrust REIT during the third quarter worth about $80,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CTRE. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada decreased their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.83.

CareTrust REIT Trading Up 1.4 %

Shares of CTRE opened at $25.87 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 1-year low of $23.10 and a 1-year high of $33.15. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The firm has a 50 day simple moving average of $26.43 and a 200-day simple moving average of $28.76.

CareTrust REIT (NASDAQ:CTRE) last announced its 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 period last year, the firm posted $0.25 EPS. Equities analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced 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 of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.48%. CareTrust REIT’s dividend payout ratio (DPR) is 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.