Public Sector Pension Investment Board Has $10.10 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Public Sector Pension Investment Board boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 327,216 shares of the real estate investment trust’s stock after purchasing an additional 14,600 shares during the period. Public Sector Pension Investment Board owned about 0.19% of CareTrust REIT worth $10,098,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of CareTrust REIT in the 2nd quarter valued at $27,000. Blue Trust Inc. boosted its holdings in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 772 shares in the last quarter. Rothschild Investment LLC acquired a new stake in CareTrust REIT in the second quarter worth $34,000. Quest Partners LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at about $40,000. Finally, GAMMA Investing LLC grew its stake in 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 acquiring an additional 1,143 shares during the period. 87.77% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT 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 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 is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

CareTrust REIT Trading Down 0.4 %

NASDAQ:CTRE opened at $29.91 on Friday. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month 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 firm’s 50 day moving average is $30.69 and its 200 day moving average is $28.27. The stock has a market capitalization of $5.13 billion, a PE ratio of 41.54 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued 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). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same quarter in the prior year, the business earned $0.35 EPS. Sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current 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. This represents a $1.16 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s payout ratio is presently 161.11%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTRE. BMO Capital Markets boosted their price target 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. Royal Bank of Canada upped their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp raised their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT 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.