SG Americas Securities LLC Has $172,000 Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

SG Americas Securities LLC decreased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 52.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,572 shares of the real estate investment trust’s stock after selling 6,089 shares during the quarter. SG Americas Securities LLC’s holdings in CareTrust REIT were worth $172,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. United Services Automobile Association boosted its stake in shares of CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 540 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CareTrust REIT by 4.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after purchasing an additional 895 shares during the last quarter. Creative Planning boosted its position in CareTrust REIT by 3.1% in the second quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock valued at $887,000 after buying an additional 1,071 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT during the second quarter worth about $27,000. Finally, GAMMA Investing LLC grew its stake 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 buying an additional 1,143 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Up 1.6 %

Shares of NASDAQ CTRE opened at $30.88 on Thursday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $31.51. The firm’s 50-day moving average is $30.12 and its 200-day moving average is $27.10. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $4.39 billion, a PE ratio of 59.38 and a beta of 1.10.

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

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. KeyCorp lifted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets boosted their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price objective 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.75% of the stock is currently owned by company insiders.

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.