Keeley Teton Advisors LLC Sells 38,581 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Keeley Teton Advisors LLC decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.8% during the 4th quarter, Holdings Channel reports. The firm owned 287,739 shares of the real estate investment trust’s stock after selling 38,581 shares during the period. CareTrust REIT comprises about 0.9% of Keeley Teton Advisors LLC’s holdings, making the stock its 17th biggest holding. Keeley Teton Advisors LLC’s holdings in CareTrust REIT were worth $7,783,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CTRE. Barclays PLC lifted its holdings in CareTrust REIT by 264.9% in the 3rd quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust’s stock worth $8,017,000 after buying an additional 188,622 shares during the period. M&T Bank Corp lifted its stake in CareTrust REIT by 11.5% in the third quarter. M&T Bank Corp now owns 13,280 shares of the real estate investment trust’s stock worth $410,000 after acquiring an additional 1,374 shares during the period. Geode Capital Management LLC raised its holdings in CareTrust REIT by 7.4% in 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 purchasing an additional 258,271 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of CareTrust REIT by 15.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,186 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 2,081 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of CareTrust REIT during the 3rd quarter valued at about $407,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

CTRE opened at $28.19 on Tuesday. The company’s 50-day simple moving average is $27.12 and its two-hundred day simple moving average is $28.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market capitalization of $5.29 billion, a P/E ratio of 35.68, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 52-week low of $23.26 and a 52-week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the business earned $0.25 EPS. As a group, analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio is 169.62%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wedbush reaffirmed an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Royal Bank of Canada decreased their price target 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. Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report 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 for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.