Amundi Buys 89,728 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Amundi grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 84.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 195,798 shares of the real estate investment trust’s stock after acquiring an additional 89,728 shares during the quarter. Amundi’s holdings in CareTrust REIT were worth $5,271,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of CareTrust REIT by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after acquiring an additional 670,348 shares in the last quarter. State Street Corp boosted its holdings in shares of CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after purchasing an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after purchasing an additional 5,448,904 shares during the last quarter. FMR LLC raised its holdings in shares of CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after buying an additional 3,538,798 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of CareTrust REIT by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after buying an additional 258,271 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CTRE. Wedbush reissued an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday. Royal Bank of Canada dropped 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 note on Friday, February 21st. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $28.35 on Friday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The company has a fifty day moving average of $26.42 and a 200-day moving average of $28.67. The firm has a market capitalization of $5.32 billion, a P/E ratio of 35.89, a P/E/G ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results 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 return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.09%. CareTrust REIT’s payout ratio is 146.84%.

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.