Handelsbanken Fonder AB Raises Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Handelsbanken Fonder AB lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 68.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,846 shares of the real estate investment trust’s stock after purchasing an additional 17,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in CareTrust REIT were worth $1,353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after purchasing an additional 2,376,832 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in CareTrust REIT by 1.6% in the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock worth $70,924,000 after buying an additional 45,733 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $51,626,000 after purchasing an additional 281,120 shares during the period. Zimmer Partners LP purchased a new stake in shares of CareTrust REIT during the first quarter valued at approximately $41,763,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of CareTrust REIT by 49.7% during the first quarter. Russell Investments Group Ltd. now owns 841,605 shares of the real estate investment trust’s stock valued at $20,509,000 after purchasing an additional 279,412 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction 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 owns 257,439 shares in the company, valued at approximately $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.75% of the stock is owned by corporate insiders.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $30.24 on Friday. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.66 billion, a PE ratio of 51.26 and a beta of 1.10. The business has a 50 day moving average of $29.63 and a 200 day moving average of $26.72. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $31.51.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The firm had revenue of $68.89 million during the quarter, compared to the consensus estimate 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 last year, the company posted $0.35 EPS. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.84%. CareTrust REIT’s dividend payout ratio (DPR) is 196.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 1st. KeyCorp increased their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company 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 increased their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets increased their price objective on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.