BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases New Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 242,208 shares of the real estate investment trust’s stock, valued at approximately $7,475,000.

Several other institutional investors have also added to or reduced their stakes in CTRE. American International Group Inc. lifted its holdings in shares of CareTrust REIT by 17.6% during the first quarter. American International Group Inc. now owns 65,180 shares of the real estate investment trust’s stock valued at $1,588,000 after purchasing an additional 9,765 shares in the last quarter. BOKF NA boosted its holdings in shares of CareTrust REIT by 35.7% during the 1st quarter. BOKF NA now owns 10,437 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 2,744 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of CareTrust REIT by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 68,534 shares of the real estate investment trust’s stock worth $1,671,000 after acquiring an additional 9,112 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of CareTrust REIT by 9.0% in the first quarter. Public Employees Retirement System of Ohio now owns 186,485 shares of the real estate investment trust’s stock worth $4,545,000 after acquiring an additional 15,436 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of CareTrust REIT by 13.4% during the first quarter. California State Teachers Retirement System now owns 119,214 shares of the real estate investment trust’s stock valued at $2,905,000 after purchasing an additional 14,100 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTRE shares. Royal Bank of Canada raised their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. BMO Capital Markets raised their price target on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. KeyCorp upped their price objective on 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 raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Trading Down 1.4 %

Shares of CTRE stock opened at $30.30 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 42.08 and a beta of 1.09. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The firm has a fifty day moving average price of $30.77 and a 200-day moving average price of $28.17.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). The company had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the prior year, the firm posted $0.35 EPS. As a group, equities analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio is 161.11%.

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 1.75% of the stock is owned by company insiders.

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.