CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3,655.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,313 shares of the real estate investment trust’s stock after acquiring an additional 58,707 shares during the period. Quest Partners LLC’s holdings in CareTrust REIT were worth $1,861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CTRE. Vanguard Group Inc. raised its stake in CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after purchasing an additional 2,376,832 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CareTrust REIT by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after buying an additional 281,120 shares during the period. Zimmer Partners LP purchased a new position in shares of CareTrust REIT in the 1st quarter worth $41,763,000. Principal Financial Group Inc. boosted its holdings in CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after acquiring an additional 41,623 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in CareTrust REIT by 7.2% during the third quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust’s stock valued at $25,784,000 after acquiring an additional 56,015 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTRE. BMO Capital Markets raised their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a report 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 company from $28.00 to $34.00 in a research report on Tuesday, October 1st. KeyCorp increased their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Stock Down 0.2 %

NASDAQ CTRE opened at $30.28 on Tuesday. 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, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The business has a 50 day moving average price of $30.75 and a two-hundred day moving average price of $27.97. The stock has a market cap of $5.19 billion, a PE ratio of 42.06 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 the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. During the same quarter last year, the company posted $0.35 earnings per share. As a group, sell-side analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal 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. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.83%. CareTrust REIT’s dividend payout ratio is presently 161.11%.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the firm’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 transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This trade represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

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.