D.A. Davidson & CO. Purchases 1,948 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

D.A. Davidson & CO. boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,120 shares of the real estate investment trust’s stock after buying an additional 1,948 shares during the period. D.A. Davidson & CO.’s holdings in CareTrust REIT were worth $1,176,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CTRE. Newbridge Financial Services Group Inc. bought a new position in shares of CareTrust REIT in the 2nd quarter worth about $27,000. Blue Trust Inc. increased its holdings in 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 worth $37,000 after purchasing an additional 772 shares in the last quarter. Rothschild Investment LLC bought a new stake in CareTrust REIT in the second quarter worth approximately $34,000. Quest Partners LLC bought a new position in shares of CareTrust REIT during the 2nd quarter worth approximately $40,000. Finally, GAMMA Investing LLC grew its position in shares of CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,143 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Transactions at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction 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. The trade was a 11.97 % 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. Company insiders own 1.75% of the company’s stock.

CareTrust REIT Trading Down 0.4 %

CTRE opened at $29.79 on Monday. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The firm has a market capitalization of $5.11 billion, a PE ratio of 41.38 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The company’s 50-day moving average is $30.68 and its 200 day moving average is $28.35.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period last year, the company earned $0.35 earnings per share. As a group, research analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio is 161.11%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTRE. Royal Bank of Canada increased their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets boosted their target price on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, KeyCorp upped their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Two 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, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT 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.