DekaBank Deutsche Girozentrale Acquires 27,852 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

DekaBank Deutsche Girozentrale increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 34.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,571 shares of the real estate investment trust’s stock after purchasing an additional 27,852 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.08% of CareTrust REIT worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Vanguard Group Inc. lifted its holdings in shares of CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock valued at $493,925,000 after purchasing an additional 2,376,832 shares in the last quarter. Zimmer Partners LP bought a new position in shares of CareTrust REIT during the first quarter valued at $41,763,000. GRS Advisors LLC bought a new position in shares of CareTrust REIT during the fourth quarter valued at $31,656,000. Norges Bank bought a new position in shares of CareTrust REIT during the fourth quarter valued at $18,640,000. Finally, Hazelview Securities Inc. bought a new position in shares of CareTrust REIT during the first quarter valued at $20,047,000. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTRE has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Wedbush started coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of “Hold” and an average target price of $26.67.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $30.93 on Thursday. The stock has a 50-day simple moving average of $28.33 and a two-hundred day simple moving average of $25.93. CareTrust REIT, Inc. has a 52-week low of $19.79 and a 52-week high of $31.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The firm has a market capitalization of $4.39 billion, a PE ratio of 59.48 and a beta of 1.10.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The company had revenue of $68.89 million for the quarter, compared to the consensus estimate of $66.36 million. During the same period in the prior year, the firm posted $0.35 EPS. Analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date is Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.75% of the stock is currently owned by company insiders.

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.