CareTrust REIT, Inc. (NASDAQ:CTRE) CFO Sells $1,043,000.00 in Stock

CareTrust REIT, Inc. (NASDAQ:CTRE) CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $29.78 on Friday. The firm has a 50-day moving average price of $27.52 and a two-hundred day moving average price of $25.50. CareTrust REIT, Inc. has a 12-month low of $19.79 and a 12-month high of $30.33. The company has a market capitalization of $4.23 billion, a P/E ratio of 57.27 and a beta of 1.10. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The company had revenue of $68.89 million during the quarter, compared to the consensus estimate of $66.36 million. During the same quarter last year, the firm posted $0.35 earnings per share. Analysts anticipate that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT’s dividend payout ratio (DPR) is currently 223.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings 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 valued at $493,925,000 after buying an additional 2,376,832 shares during the period. Zimmer Partners LP bought a new position in CareTrust REIT in the first quarter valued at approximately $41,763,000. GRS Advisors LLC acquired a new position in CareTrust REIT during the fourth quarter valued at approximately $31,656,000. Norges Bank bought a new stake in CareTrust REIT during the fourth quarter worth $18,640,000. Finally, Hazelview Securities Inc. acquired a new stake in shares of CareTrust REIT in the 1st quarter valued at $20,047,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CTRE. Wedbush began coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Royal Bank of Canada raised their price objective 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. Finally, Wells Fargo & Company boosted their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.67.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.