CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 178.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,205 shares of the real estate investment trust’s stock after buying an additional 772 shares during the quarter. Blue Trust Inc.’s holdings in CareTrust REIT were worth $37,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTRE. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT in the second quarter worth approximately $27,000. Rothschild Investment LLC acquired a new position in CareTrust REIT in the second quarter worth approximately $34,000. Quest Partners LLC acquired a new position in CareTrust REIT in the second quarter worth approximately $40,000. GAMMA Investing LLC grew its position 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 worth $44,000 after buying an additional 1,143 shares during the last quarter. Finally, Quarry LP grew its position in CareTrust REIT by 536.6% in the second quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 2,613 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp lifted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note 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 research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.75% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $32.16 on Friday. The company has a market capitalization of $5.51 billion, a PE ratio of 44.67 and a beta of 1.10. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 13.37. The company’s fifty day moving average price is $30.53 and its 200 day moving average price is $27.40.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.17). The firm had revenue of $77.38 million during the quarter, compared to the consensus estimate 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 last year, the business earned $0.35 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.61%. CareTrust REIT’s payout ratio is 161.11%.

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.