Atom Investors LP Makes New Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Atom Investors LP acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,723 shares of the real estate investment trust’s stock, valued at approximately $454,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of CareTrust REIT in the 3rd quarter valued at about $80,000. Erste Asset Management GmbH bought a new position in shares of CareTrust REIT in the 3rd quarter valued at about $1,206,000. Edgestream Partners L.P. bought a new position in shares of CareTrust REIT in the 3rd quarter valued at about $445,000. Walleye Capital LLC bought a new position in shares of CareTrust REIT in the 3rd quarter valued at about $223,000. Finally, Martingale Asset Management L P bought a new position in shares of CareTrust REIT in the 3rd quarter valued at about $784,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $29.42 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company has a market capitalization of $5.04 billion, a P/E ratio of 40.86 and a beta of 1.07. The company’s 50 day moving average price is $30.58 and its two-hundred day moving average price is $28.42. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). The company had revenue of $77.38 million for the quarter, compared to analyst estimates 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 last year, the business posted $0.35 earnings per share. On average, analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.94%. CareTrust REIT’s dividend payout ratio (DPR) is currently 161.11%.

Wall Street Analyst Weigh In

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

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.