13,105 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,105 shares of the real estate investment trust’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. United Services Automobile Association increased its holdings in shares of CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 540 shares during the period. Allspring Global Investments Holdings LLC increased its position in CareTrust REIT by 4.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 895 shares in the last quarter. Creative Planning lifted its stake in shares of CareTrust REIT by 3.1% in the 2nd quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 1,071 shares during the last quarter. GAMMA Investing LLC raised its position in CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in CareTrust REIT by 13.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,366 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 1,190 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.7 %

Shares of CareTrust REIT stock opened at $30.87 on Friday. 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 stock has a market capitalization of $4.39 billion, a P/E ratio of 59.37 and a beta of 1.10. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $31.51. The stock’s 50-day simple moving average is $29.96 and its 200 day simple moving average is $26.95.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The company had revenue of $68.89 million during the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.76%. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Insider Buying and Selling

In related news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction on 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 owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their target price on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. BMO Capital Markets lifted their price target on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Royal Bank of Canada increased their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp increased their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.