Exchange Traded Concepts LLC Decreases Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Exchange Traded Concepts LLC decreased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 98.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 843 shares of the real estate investment trust’s stock after selling 64,451 shares during the quarter. Exchange Traded Concepts LLC’s holdings in CareTrust REIT were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in CareTrust REIT by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 17,890,906 shares of the real estate investment trust’s stock valued at $400,398,000 after buying an additional 1,871,125 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of CareTrust REIT in the 4th quarter worth $287,000. AlphaMark Advisors LLC boosted its holdings in shares of CareTrust REIT by 177.2% in the first quarter. AlphaMark Advisors LLC now owns 10,050 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 6,425 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of CareTrust REIT by 4.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 895 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in CareTrust REIT by 6.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 146,936 shares of the real estate investment trust’s stock worth $3,581,000 after purchasing an additional 9,350 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.6 %

CareTrust REIT stock opened at $30.88 on Thursday. 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 market capitalization of $4.39 billion, a price-to-earnings ratio of 59.38 and a beta of 1.10. The stock’s fifty day moving average is $30.12 and its two-hundred day moving average is $27.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data 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). The business had revenue of $68.89 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.35 earnings per share. Analysts predict that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

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

Insider Buying and Selling

In other CareTrust REIT 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 transaction of $1,043,000.00. Following the sale, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted 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. Deutsche Bank Aktiengesellschaft upped their price objective 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 raised their target price on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. Finally, KeyCorp increased their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.