CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Position Decreased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 25.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,215 shares of the real estate investment trust’s stock after selling 3,184 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in CareTrust REIT were worth $249,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position 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 last quarter. Bank of New York Mellon Corp grew its position in CareTrust REIT by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust’s stock worth $67,784,000 after purchasing an additional 126,280 shares during the last quarter. Corient Private Wealth LLC grew its position in CareTrust REIT by 9.2% in the 4th quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust’s stock worth $608,000 after purchasing an additional 1,903 shares during the last quarter. Rhumbline Advisers grew its position in CareTrust REIT by 26.9% in the 4th quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust’s stock worth $15,491,000 after purchasing an additional 121,328 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CareTrust REIT by 24.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust’s stock worth $78,220,000 after purchasing an additional 568,634 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, March 13th. Wedbush restated an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Wells Fargo & Company reduced their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada reduced their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Stock Performance

Shares of CTRE opened at $29.17 on Friday. The company’s fifty day moving average is $28.42 and its 200-day moving average is $28.03. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. 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 posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.25 EPS. Equities analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.335 dividend. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.59%. CareTrust REIT’s dividend payout ratio is 145.65%.

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.