CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 573,200 shares of the real estate investment trust’s stock after purchasing an additional 1,100 shares during the period. Renaissance Technologies LLC owned about 0.40% of CareTrust REIT worth $14,387,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in CareTrust REIT in the second quarter valued at $34,000. Quest Partners LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at about $40,000. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 1,143 shares during the last quarter. Spirit of America Management Corp NY acquired a new position in CareTrust REIT in the second quarter worth about $126,000. Finally, Covestor Ltd grew its stake in CareTrust REIT by 114,366.7% in the first quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 6,862 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 stock was 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 owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CTRE. Deutsche Bank Aktiengesellschaft increased their target price on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Royal Bank of Canada increased their target price 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, Wedbush started coverage on shares of CareTrust REIT in a report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price target for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.40.

CareTrust REIT Price Performance

Shares of CTRE opened at $30.32 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The company has a market cap of $4.31 billion, a P/E ratio of 58.31 and a beta of 1.10. CareTrust REIT, Inc. has a 12 month low of $19.87 and a 12 month high of $31.51. The stock has a fifty day moving average price of $28.51 and a 200 day moving average price of $26.05.

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 the consensus estimate 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 company posted $0.35 EPS. On average, research analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.83%. CareTrust REIT’s dividend payout ratio is presently 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.