CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,097 shares of the real estate investment trust’s stock after purchasing an additional 533 shares during the quarter. Quantinno Capital Management LP’s holdings in CareTrust REIT were worth $528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after buying an additional 3,538,798 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in CareTrust REIT by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust’s stock worth $71,689,000 after acquiring an additional 132,874 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in CareTrust REIT by 15.8% in 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 acquiring an additional 281,120 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CareTrust REIT by 344.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock valued at $29,364,000 after acquiring an additional 737,236 shares in the last quarter. Finally, Heitman Real Estate Securities LLC acquired a new position in CareTrust REIT in the third quarter valued at $27,534,000. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $28.81 on Friday. The stock has a fifty day moving average price of $30.34 and a 200 day moving average price of $28.59. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. 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 has a market cap of $4.94 billion, a PE ratio of 40.01, a P/E/G ratio of 1.59 and a beta of 1.07.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). The firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $0.35 EPS. Sell-side analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Wall Street Analyst Weigh In

CTRE has been the subject of several research reports. 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. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Royal Bank of Canada raised their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, KeyCorp upped their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.67.

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.