Cwm LLC Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Cwm LLC raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,244 shares of the real estate investment trust’s stock after purchasing an additional 467 shares during the quarter. Cwm LLC’s holdings in CareTrust REIT were worth $100,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. United Services Automobile Association grew its position in shares of CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 540 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 acquiring an additional 895 shares during the period. Creative Planning boosted its position in CareTrust REIT by 3.1% during the 2nd quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock worth $887,000 after acquiring an additional 1,071 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT during the 2nd quarter worth $27,000. Finally, GAMMA Investing LLC boosted 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. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at CareTrust REIT

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 stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. The trade was 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 hyperlink. 1.75% of the stock is owned by corporate insiders.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $30.94 on Friday. The firm’s 50-day simple moving average is $30.24 and its two-hundred day simple moving average is $27.17. 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, Inc. has a 52 week low of $20.10 and a 52 week high of $31.51. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 59.50 and a beta of 1.10.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $66.36 million. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, equities analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 annualized dividend and a dividend yield of 3.75%. CareTrust REIT’s payout ratio is 223.08%.

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.