Louisiana State Employees Retirement System Has $2.45 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Louisiana State Employees Retirement System raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,600 shares of the real estate investment trust’s stock after purchasing an additional 16,000 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of CareTrust REIT worth $2,451,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares in the last quarter. Versant Capital Management Inc boosted its stake in CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 743 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,990 shares in the last quarter. Signaturefd LLC raised its stake in shares of CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 775 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of CareTrust REIT in the third quarter valued at approximately $80,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Down 0.4 %

NASDAQ CTRE opened at $26.43 on Friday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 1.24 and a beta of 1.09. The business’s fifty day moving average is $27.02 and its 200-day moving average is $28.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. CareTrust REIT, Inc. has a one year low of $22.42 and a one year high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released 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 36.88% and a return on equity of 5.32%. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 146.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTRE. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.67.

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.