Moran Wealth Management LLC Has $1.60 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Moran Wealth Management LLC trimmed its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,256 shares of the real estate investment trust’s stock after selling 433 shares during the period. Moran Wealth Management LLC’s holdings in CareTrust REIT were worth $1,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRE. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CareTrust REIT by 70.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,757 shares of the real estate investment trust’s stock worth $2,563,000 after purchasing an additional 39,266 shares during the period. OFI Invest Asset Management bought a new stake in shares of CareTrust REIT in the 4th quarter valued at $438,000. Amundi raised its stake in CareTrust REIT by 84.6% during the 4th quarter. Amundi now owns 195,798 shares of the real estate investment trust’s stock worth $5,271,000 after buying an additional 89,728 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 534 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in CareTrust REIT by 554.8% during the fourth quarter. Edgestream Partners L.P. now owns 94,369 shares of the real estate investment trust’s stock worth $2,553,000 after acquiring an additional 79,957 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.9 %

Shares of CareTrust REIT stock opened at $26.05 on Wednesday. The firm has a market cap of $4.89 billion, a PE ratio of 32.97, a P/E/G ratio of 1.25 and a beta of 1.11. The business’s 50 day simple moving average is $26.39 and its 200 day simple moving average is $28.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 last year, the company earned $0.25 earnings per share. On average, analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.45%. CareTrust REIT’s dividend payout ratio is 146.84%.

Analyst Upgrades and Downgrades

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

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.