AQR Capital Management LLC Cuts Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

AQR Capital Management LLC decreased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 16.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,058 shares of the real estate investment trust’s stock after selling 3,165 shares during the quarter. AQR Capital Management LLC’s holdings in CareTrust REIT were worth $403,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in CareTrust REIT during the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 1,143 shares during the period. Spirit of America Management Corp NY acquired a new stake in CareTrust REIT during the 2nd quarter worth approximately $126,000. Finally, Covestor Ltd lifted its position in CareTrust REIT by 114,366.7% during the 1st quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 6,862 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction 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 $7,671,682.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.75% of the stock is owned by company insiders.

CareTrust REIT Price Performance

CTRE opened at $30.63 on Wednesday. The stock has a fifty day moving average of $29.69 and a 200-day moving average of $26.80. The firm has a market capitalization of $4.35 billion, a P/E ratio of 58.87 and a beta of 1.10. CareTrust REIT, Inc. has a 12-month low of $20.10 and a 12-month high of $31.51. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data 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 return on equity of 4.84% and a net margin of 30.09%. The firm had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Equities analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTRE. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets raised their price target on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. KeyCorp raised their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. 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 report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.