Prudential Financial Inc. Has $64.81 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Prudential Financial Inc. lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,396,050 shares of the real estate investment trust’s stock after buying an additional 190,982 shares during the period. Prudential Financial Inc.’s holdings in CareTrust REIT were worth $64,813,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Advantage Trust Co bought a new stake in CareTrust REIT during the 4th quarter worth $30,000. Versant Capital Management Inc grew its holdings in shares of CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 743 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the period. Loomis Sayles & Co. L P raised its holdings in CareTrust REIT by 5,527.8% in 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 during the last quarter. Finally, Signaturefd LLC boosted its position in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 443 shares during the period. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Trading Up 1.2 %

NASDAQ CTRE opened at $28.98 on Tuesday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 36.69, a P/E/G ratio of 1.25 and a beta of 1.11. The business has a 50 day simple moving average of $26.71 and a 200 day simple moving average of $28.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the business posted $0.25 earnings per share. Research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.62%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT’s payout ratio is presently 169.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. Royal Bank of Canada decreased their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Wedbush restated an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company decreased their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

About CareTrust REIT

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.