CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 30.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,869,937 shares of the real estate investment trust’s stock after selling 1,253,530 shares during the quarter. American Century Companies Inc. owned approximately 2.02% of CareTrust REIT worth $72,035,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after acquiring an additional 2,376,832 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of CareTrust REIT in the first quarter valued at approximately $41,763,000. GRS Advisors LLC acquired a new stake in shares of CareTrust REIT in the fourth quarter valued at approximately $31,656,000. Norges Bank purchased a new position in CareTrust REIT during the fourth quarter worth approximately $18,640,000. Finally, Hazelview Securities Inc. acquired a new position in CareTrust REIT during the first quarter worth $20,047,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Wedbush initiated coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price target for the company. Royal Bank of Canada raised their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.67.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $31.08 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $19.79 and a fifty-two week high of $31.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The company has a 50 day moving average price of $28.02 and a 200 day moving average price of $25.74. The stock has a market capitalization of $4.79 billion, a P/E ratio of 59.77 and a beta of 1.10.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The firm had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 3.73%. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

Insider Transactions at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 257,439 shares in the company, valued at $7,671,682.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.75% of the company’s stock.

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.