Hudson Bay Capital Management LP Has $6.54 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Hudson Bay Capital Management LP lowered its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 78.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,595 shares of the real estate investment trust’s stock after selling 896,587 shares during the period. Hudson Bay Capital Management LP’s holdings in CareTrust REIT were worth $6,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Advantage Trust Co acquired a new stake in shares of CareTrust REIT in the 4th quarter worth about $30,000. Blue Trust Inc. raised its holdings in shares of CareTrust REIT by 50.0% in 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 last quarter. Quarry LP raised its holdings in shares of CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,525 shares during the last quarter. Signaturefd LLC raised its holdings in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of CareTrust REIT by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 1,806 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CTRE shares. Wedbush restated an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Wells Fargo & Company decreased their price objective on shares of 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, Royal Bank of Canada decreased 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. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Trading Up 0.7%

NASDAQ:CTRE opened at $29.14 on Monday. 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 firm has a market cap of $5.59 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 52 week low of $24.35 and a 52 week high of $33.15. The firm has a 50-day moving average price of $28.16 and a two-hundred day moving average price of $28.08.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS 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 previous year, the business posted $0.25 earnings per share. On average, equities analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, March 31st. CareTrust REIT’s dividend payout ratio is currently 145.65%.

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.