Versant Capital Management Inc Acquires 743 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Versant Capital Management Inc increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 98.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,495 shares of the real estate investment trust’s stock after acquiring an additional 743 shares during the period. Versant Capital Management Inc’s holdings in CareTrust REIT were worth $40,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in CareTrust REIT in the second quarter worth $27,000. Blue Trust Inc. grew its holdings in shares of CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares during the last quarter. Quest Partners LLC purchased a new position in CareTrust REIT in the 2nd quarter worth about $40,000. Loomis Sayles & Co. L P lifted its holdings in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,990 shares in the last quarter. Finally, Signaturefd LLC boosted its position in CareTrust REIT by 55.0% in the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 775 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 1.3 %

CTRE opened at $26.38 on Tuesday. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 1.59 and a beta of 1.09. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The stock has a fifty day moving average price of $29.27 and a 200-day moving average price of $28.81.

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

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.40%. The ex-dividend date is Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of research reports. KeyCorp raised their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. 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 report on Monday, December 9th. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. 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. Based on data from MarketBeat.com, CareTrust REIT has a consensus rating of “Hold” and an average price target of $30.67.

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.