CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 12.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,596 shares of the real estate investment trust’s stock after buying an additional 1,375 shares during the quarter. Commonwealth Equity Services LLC’s holdings in CareTrust REIT were worth $316,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of CareTrust REIT by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after purchasing an additional 895 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 last quarter. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT during the 2nd quarter worth about $34,000. Ameritas Investment Partners Inc. increased its holdings in shares of CareTrust REIT by 15.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,965 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in CareTrust REIT by 7.8% during the first quarter. Mutual of America Capital Management LLC now owns 22,482 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 1,634 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 2.1 %

Shares of CareTrust REIT stock opened at $30.96 on Tuesday. 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 company has a market cap of $4.40 billion, a P/E ratio of 59.54 and a beta of 1.10. CareTrust REIT, Inc. has a one year low of $19.87 and a one year high of $31.51. The firm has a fifty day moving average of $28.60 and a two-hundred day moving average of $26.10.

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

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 (DPR) is 223.08%.

Insider Activity

In related news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Wedbush started coverage on CareTrust REIT in a report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.40.

CareTrust REIT Company 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.