Vontobel Holding Ltd. Purchases New Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Vontobel Holding Ltd. acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,168 shares of the real estate investment trust’s stock, valued at approximately $406,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in CareTrust REIT by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after buying an additional 2,376,832 shares during the period. Centersquare Investment Management LLC increased its position in shares of CareTrust REIT by 1.6% during the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock worth $70,924,000 after acquiring an additional 45,733 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CareTrust REIT by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after acquiring an additional 281,120 shares in the last quarter. Zimmer Partners LP purchased a new position in CareTrust REIT in the first quarter valued at about $41,763,000. Finally, Russell Investments Group Ltd. grew its stake in CareTrust REIT by 49.7% during the 1st quarter. Russell Investments Group Ltd. now owns 841,605 shares of the real estate investment trust’s stock valued at $20,509,000 after purchasing an additional 279,412 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $30.36 on Wednesday. The company has a market cap of $4.31 billion, a PE ratio of 58.38 and a beta of 1.10. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $31.51. The firm has a 50-day simple moving average of $30.06 and a 200 day simple moving average of $27.07. 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 posted 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 for the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same period last year, the company posted $0.35 earnings per share. On average, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Announces Dividend

The business 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. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s payout ratio is 223.08%.

Insider Activity

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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