Allspring Global Investments Holdings LLC Boosts Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Allspring Global Investments Holdings LLC lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,465 shares of the real estate investment trust’s stock after buying an additional 9,238 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CareTrust REIT were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in CareTrust REIT by 6.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 146,936 shares of the real estate investment trust’s stock valued at $3,581,000 after buying an additional 9,350 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of CareTrust REIT by 13.2% during the first quarter. State of Alaska Department of Revenue now owns 136,216 shares of the real estate investment trust’s stock valued at $3,318,000 after acquiring an additional 15,853 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of CareTrust REIT by 8.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 47,025 shares of the real estate investment trust’s stock worth $1,102,000 after purchasing an additional 3,735 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in CareTrust REIT by 3.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 548,153 shares of the real estate investment trust’s stock worth $13,358,000 after purchasing an additional 20,715 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in CareTrust REIT by 618.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 256,866 shares of the real estate investment trust’s stock valued at $6,260,000 after purchasing an additional 221,092 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $32.65 on Friday. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The stock has a market cap of $4.64 billion, a PE ratio of 63.42 and a beta of 1.10. The business has a 50-day simple moving average of $30.45 and a 200-day simple moving average of $27.37. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE) last posted 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 $0.38 by ($0.17). CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. The business had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts expect that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO William M. Wagner sold 35,000 shares of the business’s 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 of the company’s stock, valued at $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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.