Louisiana State Employees Retirement System Increases Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Louisiana State Employees Retirement System increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,600 shares of the real estate investment trust’s stock after buying an additional 3,100 shares during the period. Louisiana State Employees Retirement System owned about 0.05% of CareTrust REIT worth $2,302,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of CareTrust REIT by 16.8% in the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 467 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 540 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 772 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of CareTrust REIT by 55.0% in the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 775 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CareTrust REIT by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 895 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 1.3 %

Shares of NASDAQ:CTRE opened at $31.32 on Tuesday. The stock has a market cap of $4.45 billion, a P/E ratio of 60.23 and a beta of 1.10. The firm has a fifty day moving average price of $30.24 and a 200 day moving average price of $27.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $31.51.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 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 analyst estimates of $66.36 million. During the same quarter last year, the business posted $0.35 EPS. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on shares of 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 upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp upped their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets upped their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CareTrust REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.75% of the company’s stock.

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.