CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 43.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,561 shares of the real estate investment trust’s stock after selling 4,358 shares during the quarter. Advisors Asset Management Inc.’s holdings in CareTrust REIT were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in CareTrust REIT by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,534 shares of the real estate investment trust’s stock worth $1,671,000 after purchasing an additional 9,112 shares during the period. California State Teachers Retirement System raised its holdings in CareTrust REIT by 13.4% in the first quarter. California State Teachers Retirement System now owns 119,214 shares of the real estate investment trust’s stock valued at $2,905,000 after acquiring an additional 14,100 shares in the last quarter. Tidal Investments LLC raised its holdings in CareTrust REIT by 29.9% in the first quarter. Tidal Investments LLC now owns 54,370 shares of the real estate investment trust’s stock valued at $1,325,000 after acquiring an additional 12,500 shares in the last quarter. Virtu Financial LLC purchased a new position in CareTrust REIT in the first quarter worth approximately $200,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in CareTrust REIT by 32.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust’s stock worth $3,052,000 after acquiring an additional 30,619 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction on Wednesday, September 4th. The shares were 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 directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. The trade was a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CTRE shares. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp raised their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada upped their price objective on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, BMO Capital Markets raised their target price on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $29.79 on Friday. The company has a fifty day moving average of $30.68 and a two-hundred day moving average of $28.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The company has a market capitalization of $5.11 billion, a PE ratio of 41.38 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.89%. CareTrust REIT’s payout ratio is 161.11%.

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.