CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 40.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,460 shares of the real estate investment trust’s stock after acquiring an additional 5,020 shares during the quarter. Everence Capital Management Inc.’s holdings in CareTrust REIT were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT during the second quarter worth approximately $27,000. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT in the second quarter valued at approximately $34,000. Blue Trust Inc. increased its holdings in shares of CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 772 shares during the period. Quest Partners LLC acquired a new position in shares of CareTrust REIT in the second quarter valued at approximately $40,000. Finally, GAMMA Investing LLC increased its holdings in shares of CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,143 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Down 1.7 %

CTRE opened at $30.36 on Tuesday. The business’s fifty day moving average is $30.01 and its two-hundred day moving average is $27.03. 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 company has a market cap of $4.31 billion, a price-to-earnings ratio of 58.38 and a beta of 1.10. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $31.51.

CareTrust REIT (NASDAQ:CTRE) last posted its 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 firm had revenue of $68.89 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.35 earnings per share. Analysts anticipate that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Insider Activity

In other news, CFO William M. Wagner sold 35,000 shares of the company’s 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 sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

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