Wellington Management Group LLP Has $394.95 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Wellington Management Group LLP raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,798,055 shares of the real estate investment trust’s stock after buying an additional 670,348 shares during the quarter. Wellington Management Group LLP owned 0.07% of CareTrust REIT worth $394,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth approximately $34,000. Blue Trust Inc. grew its position in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 772 shares during the period. Quest Partners LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth approximately $40,000. Finally, GAMMA Investing LLC grew its position in shares of CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,143 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

CTRE has been the subject of several analyst reports. KeyCorp lifted their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets lifted their price target on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada lifted their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $29.34 on Friday. The company’s fifty day simple moving average is $30.53 and its 200-day simple moving average is $28.47. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market cap of $5.03 billion, a PE ratio of 40.75 and a beta of 1.07. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the prior year, the firm earned $0.35 EPS. Equities research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.95%. CareTrust REIT’s payout ratio is 161.11%.

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.