MBM Wealth Consultants LLC Purchases 791 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

MBM Wealth Consultants LLC grew its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,556 shares of the real estate investment trust’s stock after buying an additional 791 shares during the quarter. MBM Wealth Consultants LLC’s holdings in CareTrust REIT were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in CareTrust REIT by 12.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,596 shares of the real estate investment trust’s stock worth $316,000 after buying an additional 1,375 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of CareTrust REIT by 67.4% in the second quarter. Envestnet Asset Management Inc. now owns 152,787 shares of the real estate investment trust’s stock worth $3,835,000 after acquiring an additional 61,512 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of CareTrust REIT by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock valued at $51,626,000 after purchasing an additional 281,120 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in CareTrust REIT by 42.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 15,322 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 4,551 shares during the period. Finally, Amalgamated Bank boosted its holdings in CareTrust REIT by 5.5% in the second quarter. Amalgamated Bank now owns 43,108 shares of the real estate investment trust’s stock worth $1,082,000 after purchasing an additional 2,228 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of research reports. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. KeyCorp upped their price target 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. Finally, Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.67.

CareTrust REIT Price Performance

NASDAQ:CTRE opened at $27.17 on Wednesday. The stock has a market cap of $4.66 billion, a PE ratio of 18.43, a P/E/G ratio of 1.26 and a beta of 1.09. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The business’s 50-day simple moving average is $28.35 and its two-hundred day simple moving average is $28.93. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly 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). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 annualized dividend and a yield of 4.27%. CareTrust REIT’s payout ratio is 161.11%.

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.