CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 691,075 shares of the real estate investment trust’s stock after selling 2,466 shares during the period. Royal London Asset Management Ltd. owned approximately 0.40% of CareTrust REIT worth $21,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of CareTrust REIT in the 2nd quarter valued at $27,000. Blue Trust Inc. raised its position in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 772 shares during the period. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT during the second quarter worth about $34,000. Quest Partners LLC purchased a new stake in shares of CareTrust REIT in the second quarter worth about $40,000. Finally, GAMMA Investing LLC grew its stake in shares of CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,143 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Down 0.3 %

NASDAQ CTRE opened at $29.34 on Friday. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 40.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The company’s fifty day moving average price is $30.53 and its two-hundred day moving average price is $28.45.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same quarter last year, the business posted $0.35 earnings per share. As a group, research analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Analysts Set New Price Targets

Several research firms recently commented on CTRE. KeyCorp boosted their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets upped their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company 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 target for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada raised their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.