Castellan Group Invests $3.40 Million in CareTrust REIT, Inc. (NASDAQ:CTRE)

Castellan Group purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 125,624 shares of the real estate investment trust’s stock, valued at approximately $3,398,000. CareTrust REIT makes up approximately 1.5% of Castellan Group’s portfolio, making the stock its 29th biggest position. Castellan Group owned about 0.07% of CareTrust REIT as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of CareTrust REIT by 43.5% during the 4th quarter. Van ECK Associates Corp now owns 35,171 shares of the real estate investment trust’s stock worth $951,000 after acquiring an additional 10,655 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of CareTrust REIT by 85.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 71,253 shares of the real estate investment trust’s stock worth $1,890,000 after acquiring an additional 32,788 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of CareTrust REIT by 21.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 90,600 shares of the real estate investment trust’s stock worth $2,451,000 after acquiring an additional 16,000 shares in the last quarter. Lightrock Netherlands B.V. bought a new stake in shares of CareTrust REIT during the 4th quarter worth about $3,755,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of CareTrust REIT by 27.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,380 shares of the real estate investment trust’s stock worth $1,011,000 after acquiring an additional 8,049 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $25.56 on Thursday. CareTrust REIT, Inc. has a twelve month low of $22.30 and a twelve month high of $33.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The stock has a market capitalization of $4.38 billion, a PE ratio of 18.19, a P/E/G ratio of 1.24 and a beta of 1.09. The stock has a 50-day simple moving average of $27.14 and a 200 day simple moving average of $28.93.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results 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 36.88% and a return on equity of 5.32%. During the same period last year, the firm posted $0.25 earnings per share. Research analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The company 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 yield of 4.54%. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several recent analyst reports. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. One research 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. Based on data from MarketBeat, CareTrust REIT has a consensus rating of “Hold” and an average target price 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.