Eagle Asset Management Inc. Increases Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Eagle Asset Management Inc. increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 428,699 shares of the real estate investment trust’s stock after acquiring an additional 78,560 shares during the quarter. Eagle Asset Management Inc.’s holdings in CareTrust REIT were worth $13,264,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTRE. Vanguard Group Inc. increased its holdings in shares of CareTrust REIT by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after buying an additional 2,376,832 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CareTrust REIT by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust’s stock worth $71,689,000 after acquiring an additional 132,874 shares during the period. Dimensional Fund Advisors LP increased its stake in CareTrust REIT by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after acquiring an additional 281,120 shares during the last quarter. Zimmer Partners LP purchased a new stake in CareTrust REIT in the first quarter valued at $41,763,000. Finally, Principal Financial Group Inc. lifted its stake in shares of CareTrust REIT by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after purchasing an additional 41,623 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 1.4 %

NASDAQ CTRE opened at $30.30 on Friday. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The firm has a 50 day moving average of $30.77 and a two-hundred day moving average of $28.12. The stock has a market capitalization of $5.19 billion, a PE ratio of 42.08 and a beta of 1.09. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last posted 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 business had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period last year, the company earned $0.35 EPS. As a group, research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

Insider Buying and Selling at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

CareTrust REIT Company 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.