Capital Square LLC Has $2.95 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Capital Square LLC lowered its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,646 shares of the real estate investment trust’s stock after selling 8,234 shares during the period. CareTrust REIT comprises 1.8% of Capital Square LLC’s portfolio, making the stock its 12th largest holding. Capital Square LLC owned approximately 0.06% of CareTrust REIT worth $2,952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRE. Truvestments Capital LLC raised its position in CareTrust REIT by 11.5% in the 3rd quarter. Truvestments Capital LLC now owns 114,007 shares of the real estate investment trust’s stock valued at $3,518,000 after purchasing an additional 11,732 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,990 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of CareTrust REIT in the 3rd quarter valued at approximately $210,000. Pitcairn Co. boosted its position in shares of CareTrust REIT by 5.3% during the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock worth $415,000 after purchasing an additional 671 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of CareTrust REIT by 8.1% during the 3rd quarter. Citigroup Inc. now owns 198,070 shares of the real estate investment trust’s stock valued at $6,112,000 after purchasing an additional 14,801 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on CTRE shares. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp raised 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 raised their target price 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. Finally, Royal Bank of Canada upped their price target 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 issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Stock Up 0.4 %

Shares of CTRE traded up $0.11 during trading hours on Monday, reaching $30.41. 49,155 shares of the stock traded hands, compared to its average volume of 1,540,627. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $30.77 and a 200 day simple moving average of $28.17. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 20.90 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last announced its 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 $0.29 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 return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the previous year, the firm earned $0.35 EPS. On average, equities analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s payout ratio is 161.11%.

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.