Los Angeles Capital Management LLC Takes $708,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Los Angeles Capital Management LLC acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,942 shares of the real estate investment trust’s stock, valued at approximately $708,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTRE. Vanguard Group Inc. grew its position in CareTrust REIT by 13.3% in the 1st 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 last quarter. Dimensional Fund Advisors LP grew its position in CareTrust REIT by 15.8% during the second 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 in the last quarter. Zimmer Partners LP bought a new position in CareTrust REIT during the first quarter valued at about $41,763,000. Principal Financial Group Inc. raised its holdings in CareTrust REIT by 5.2% in the 3rd 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 in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of CareTrust REIT by 0.9% in the 2nd quarter. Victory Capital Management Inc. now owns 779,491 shares of the real estate investment trust’s stock worth $19,565,000 after acquiring an additional 7,113 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTRE. BMO Capital Markets boosted their price objective on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. KeyCorp increased their price objective 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. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Stock Up 1.4 %

CTRE opened at $30.35 on Friday. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 42.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The firm’s 50-day simple moving average is $30.75 and its 200-day simple moving average is $27.92. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data 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 return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same period in the previous year, the business posted $0.35 EPS. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.82%. CareTrust REIT’s payout ratio is 161.11%.

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of the company’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 transaction, the chief financial officer now directly owns 257,439 shares in the company, 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. Insiders own 1.75% of the company’s stock.

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.