CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 381.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,878,379 shares of the real estate investment trust’s stock after purchasing an additional 5,448,904 shares during the period. JPMorgan Chase & Co. owned approximately 4.01% of CareTrust REIT worth $212,267,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of CareTrust REIT by 27.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 29,227 shares of the real estate investment trust’s stock worth $734,000 after acquiring an additional 6,281 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CareTrust REIT by 26.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,126 shares of the real estate investment trust’s stock valued at $1,308,000 after buying an additional 10,897 shares during the period. Principal Financial Group Inc. grew its position in shares of CareTrust REIT by 5.1% during the second quarter. Principal Financial Group Inc. now owns 796,683 shares of the real estate investment trust’s stock worth $19,997,000 after buying an additional 38,620 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of CareTrust REIT during the second quarter worth approximately $34,000. Finally, Commonwealth Equity Services LLC raised its holdings in CareTrust REIT by 12.3% in the second quarter. Commonwealth Equity Services LLC now owns 12,596 shares of the real estate investment trust’s stock valued at $316,000 after acquiring an additional 1,375 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $26.80 on Tuesday. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The firm has a market capitalization of $4.59 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The company’s fifty day moving average price is $29.69 and its 200 day moving average price is $28.75.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter last year, the firm posted $0.35 EPS. As a group, sell-side analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.33%. The ex-dividend date is Tuesday, December 31st. CareTrust REIT’s payout ratio is currently 161.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CTRE shares. KeyCorp increased their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.