Metis Global Partners LLC Purchases 3,388 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Metis Global Partners LLC lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,266 shares of the real estate investment trust’s stock after acquiring an additional 3,388 shares during the quarter. Metis Global Partners LLC’s holdings in CareTrust REIT were worth $521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of CareTrust REIT by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after acquiring an additional 670,348 shares during the period. State Street Corp grew its stake in shares of CareTrust REIT by 6.7% during the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock worth $259,255,000 after acquiring an additional 520,783 shares during the period. JPMorgan Chase & Co. boosted its stake in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after purchasing an additional 5,448,904 shares during the period. FMR LLC boosted its stake in CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares during the period. Finally, Geode Capital Management LLC boosted its stake 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 during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTRE shares. Royal Bank of Canada cut their target price 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. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.83.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $26.57 on Thursday. The business’s 50-day moving average price is $26.49 and its two-hundred day moving average price is $28.80. CareTrust REIT, Inc. has a twelve month low of $23.10 and a twelve month high of $33.15. The stock has a market cap of $4.99 billion, a P/E ratio of 33.63, a PEG ratio of 1.25 and a beta of 1.09. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results 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 in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.37%. CareTrust REIT’s payout ratio is currently 146.84%.

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.