Stifel Financial Corp Reduces Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Stifel Financial Corp cut its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,350 shares of the real estate investment trust’s stock after selling 5,492 shares during the period. Stifel Financial Corp’s holdings in CareTrust REIT were worth $628,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after buying an additional 3,538,798 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of CareTrust REIT in the third quarter valued at $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in CareTrust REIT by 344.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after purchasing an additional 737,236 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in CareTrust REIT by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock valued at $51,626,000 after purchasing an additional 281,120 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in CareTrust REIT in the 3rd quarter valued at about $7,475,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTRE shares. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, KeyCorp raised their price objective on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

CareTrust REIT Trading Up 0.6 %

NASDAQ:CTRE opened at $27.39 on Thursday. The business’s 50-day moving average is $29.97 and its two-hundred day moving average is $28.70. The firm has a market capitalization of $4.70 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. 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 (NASDAQ:CTRE) last released its quarterly 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 $0.29 by ($0.08). The company had revenue of $77.38 million during 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 company earned $0.35 EPS. Research analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.24%. CareTrust REIT’s payout ratio is currently 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.