Creative Planning Raises Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Creative Planning grew its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 35,330 shares of the real estate investment trust’s stock after buying an additional 1,071 shares during the quarter. Creative Planning’s holdings in CareTrust REIT were worth $887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRE. Vanguard Group Inc. raised its holdings in CareTrust REIT by 13.3% in the first 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 in the last quarter. Zimmer Partners LP purchased a new stake in shares of CareTrust REIT in the 1st quarter valued at approximately $41,763,000. Hazelview Securities Inc. acquired a new stake in shares of CareTrust REIT in the 1st quarter valued at $20,047,000. Tributary Capital Management LLC purchased a new stake in shares of CareTrust REIT during the 2nd quarter worth $11,119,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 281,120 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT 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 approximately $7,671,682.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTRE. Royal Bank of Canada lifted 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. KeyCorp boosted their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets boosted their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Price Performance

CTRE stock opened at $30.24 on Friday. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.66 billion, a P/E ratio of 51.26 and a beta of 1.10. The business has a 50 day simple moving average of $29.63 and a 200-day simple moving average of $26.72. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $31.51.

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 for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The business had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, equities analysts anticipate that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The business 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 $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 196.61%.

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.