Janney Montgomery Scott LLC Sells 2,264 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Janney Montgomery Scott LLC lowered its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.9% during the third quarter, Holdings Channel reports. The fund owned 36,132 shares of the real estate investment trust’s stock after selling 2,264 shares during the period. Janney Montgomery Scott LLC’s holdings in CareTrust REIT were worth $1,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CTRE. Newbridge Financial Services Group Inc. bought a new position in shares of CareTrust REIT in the 2nd quarter valued at about $27,000. Blue Trust Inc. raised its holdings in CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 772 shares during the period. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT in the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in shares of CareTrust REIT in the second quarter valued at approximately $40,000. Finally, GAMMA Investing LLC grew its stake 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 buying an additional 1,143 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTRE shares. Royal Bank of Canada raised their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp raised their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets raised their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Up 1.4 %

CTRE opened at $30.35 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company has a market capitalization of $5.20 billion, a P/E ratio of 42.15 and a beta of 1.09. The stock has a fifty day moving average of $30.75 and a 200-day moving average of $27.92.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period last year, the firm earned $0.35 EPS. On average, equities analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.82%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s payout ratio is 161.11%.

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the sale, the chief financial officer now directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. The trade was a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.