ProShare Advisors LLC Has $8.60 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

ProShare Advisors LLC boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.6% in the fourth quarter, Holdings Channel reports. The firm owned 318,080 shares of the real estate investment trust’s stock after purchasing an additional 54,396 shares during the quarter. ProShare Advisors LLC’s holdings in CareTrust REIT were worth $8,604,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of CareTrust REIT by 381.2% during 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of CareTrust REIT by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock worth $738,482,000 after buying an additional 4,263,097 shares in the last quarter. FMR LLC raised its stake in shares of CareTrust REIT by 51.8% in the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock valued at $214,586,000 after acquiring an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $49,048,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of CareTrust REIT by 149.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust’s stock worth $73,269,000 after acquiring an additional 1,623,297 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Up 1.8%

CTRE stock opened at $29.17 on Friday. 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, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The company has a market cap of $5.59 billion, a P/E ratio of 36.92, a PEG ratio of 1.25 and a beta of 0.88. The business has a fifty day moving average of $28.42 and a 200-day moving average of $28.00.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the business earned $0.25 earnings per share. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend 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 145.65%.

Wall Street Analyst Weigh In

CTRE has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Wedbush restated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. 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 report on Thursday, March 13th. Finally, Wells Fargo & Company decreased their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.