CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,645 shares of the real estate investment trust’s stock after selling 1,475 shares during the period. D.A. Davidson & CO.’s holdings in CareTrust REIT were worth $991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock worth $528,000 after buying an additional 533 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of CareTrust REIT by 0.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after acquiring an additional 544 shares in the last quarter. Blue Trust Inc. boosted its holdings in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 603 shares in the last quarter. Pitcairn Co. boosted its holdings in CareTrust REIT by 5.3% in the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 671 shares in the last quarter. Finally, US Bancorp DE increased its stake in CareTrust REIT by 6.2% in the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust’s stock valued at $364,000 after purchasing an additional 692 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada dropped their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.83.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $24.90 on Monday. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.25 and a beta of 1.09. The firm’s fifty day simple moving average is $26.73 and its 200-day simple moving average is $28.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 12 month low of $22.46 and a 12 month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the business earned $0.25 earnings per share. As a group, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.66%. CareTrust REIT’s dividend payout ratio (DPR) is 146.84%.

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.