CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Blue Trust Inc.

Blue Trust Inc. boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 178.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,205 shares of the real estate investment trust’s stock after acquiring an additional 772 shares during the period. Blue Trust Inc.’s holdings in CareTrust REIT were worth $37,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT during the second quarter worth about $27,000. Rothschild Investment LLC acquired a new position in CareTrust REIT during the second quarter worth about $34,000. Quest Partners LLC acquired a new position in CareTrust REIT during the second quarter worth about $40,000. GAMMA Investing LLC raised its position in CareTrust REIT by 187.7% during the second 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 last quarter. Finally, Quarry LP raised its position in CareTrust REIT by 536.6% during the second quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 2,613 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insiders Place Their Bets

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

CareTrust REIT Trading Down 1.6 %

CTRE opened at $32.16 on Friday. The stock has a market capitalization of $5.51 billion, a PE ratio of 44.67 and a beta of 1.10. The firm’s fifty day moving average price is $30.53 and its 200 day moving average price is $27.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 13.37. CareTrust REIT, Inc. has a 12-month low of $20.10 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The business had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period last year, the company posted $0.35 earnings per share. As a group, research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued 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 3.61%. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

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.