Walleye Capital LLC Acquires 6,880 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Walleye Capital LLC increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 95.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,106 shares of the real estate investment trust’s stock after acquiring an additional 6,880 shares during the quarter. Walleye Capital LLC’s holdings in CareTrust REIT were worth $382,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advantage Trust Co bought a new position in shares of CareTrust REIT during the fourth quarter worth approximately $30,000. Versant Capital Management Inc grew its position in 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 buying an additional 743 shares in the last quarter. Blue Trust Inc. increased its stake in CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares during the period. Signaturefd LLC raised its holdings in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 443 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of CareTrust REIT by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 790 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTRE. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Royal Bank of Canada decreased their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Finally, Wedbush restated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $28.20 on Friday. The company’s 50 day moving average price is $27.48 and its two-hundred day moving average price is $28.24. The firm has a market capitalization of $5.29 billion, a P/E ratio of 35.70, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a fifty-two week low of $23.62 and a fifty-two week high of $33.15. 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 (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 period last year, the company posted $0.25 EPS. On average, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Monday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio (DPR) is 169.62%.

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.