Lighthouse Investment Partners LLC Acquires 120,000 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Lighthouse Investment Partners LLC grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 34.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 470,000 shares of the real estate investment trust’s stock after buying an additional 120,000 shares during the period. Lighthouse Investment Partners LLC’s holdings in CareTrust REIT were worth $11,797,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in CareTrust REIT by 41.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 155,100 shares of the real estate investment trust’s stock worth $3,471,000 after purchasing an additional 45,400 shares in the last quarter. Hazelview Securities Inc. bought a new position in CareTrust REIT during the 1st quarter valued at about $20,047,000. Teachers Retirement System of The State of Kentucky lifted its stake in CareTrust REIT by 32.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust’s stock valued at $3,052,000 after acquiring an additional 30,619 shares during the period. Vanguard Group Inc. lifted its stake in CareTrust REIT by 13.3% during 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 acquiring an additional 2,376,832 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in CareTrust REIT by 1.6% during the 1st quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock valued at $70,924,000 after acquiring an additional 45,733 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 1.2 %

CareTrust REIT stock opened at $30.60 on Friday. The firm has a 50 day moving average of $28.83 and a 200 day moving average of $26.22. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 58.85 and a beta of 1.10. CareTrust REIT, Inc. has a 12-month low of $19.87 and a 12-month high of $31.51. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE) last released its 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 return on equity of 4.84% and a net margin of 30.09%. The firm had revenue of $68.89 million during the quarter, compared to analysts’ expectations of $66.36 million. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, research analysts predict that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.79%. CareTrust REIT’s payout ratio is 223.08%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Royal Bank of Canada upped their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, CareTrust REIT has a consensus rating of “Hold” and an average target price of $27.40.

Insiders Place Their Bets

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.75% of the stock is currently owned by corporate insiders.

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.