Sei Investments Co. Has $12.07 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Sei Investments Co. reduced its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.8% in the second quarter, HoldingsChannel reports. The firm owned 480,824 shares of the real estate investment trust’s stock after selling 126,281 shares during the period. Sei Investments Co.’s holdings in CareTrust REIT were worth $12,069,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTRE. Vanguard Group Inc. lifted its position in shares of 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. Centersquare Investment Management LLC raised its holdings in shares of CareTrust REIT by 1.6% during the first 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 purchasing an additional 45,733 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CareTrust REIT by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after purchasing an additional 281,120 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of CareTrust REIT in the 1st quarter valued at about $41,763,000. Finally, GRS Advisors LLC bought a new stake in CareTrust REIT in the 4th quarter valued at about $31,656,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRE has been the topic of several recent research reports. Royal Bank of Canada increased their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted 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 issued a buy rating to the stock. According to MarketBeat.com, CareTrust REIT has an average rating of “Hold” and a consensus price target of $27.40.

CareTrust REIT Stock Performance

Shares of CTRE opened at $30.75 on Friday. CareTrust REIT, Inc. has a 52 week low of $19.87 and a 52 week high of $31.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The stock has a 50 day moving average price of $28.91 and a two-hundred day moving average price of $26.27. The firm has a market capitalization of $4.37 billion, a P/E ratio of 59.13 and a beta of 1.10.

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

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, September 30th. CareTrust REIT’s payout ratio is currently 223.08%.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction dated 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 owns 257,439 shares in the company, valued at approximately $7,671,682.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.75% of the stock is owned by corporate 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.