DekaBank Deutsche Girozentrale Increases Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

DekaBank Deutsche Girozentrale raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 34.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,571 shares of the real estate investment trust’s stock after purchasing an additional 27,852 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CareTrust REIT were worth $2,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CTRE. United Services Automobile Association boosted its stake in CareTrust REIT by 5.0% during the second 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 during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CareTrust REIT by 4.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 895 shares in the last quarter. GAMMA Investing LLC boosted 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 valued at $44,000 after acquiring an additional 1,143 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of CareTrust REIT in the second quarter valued at $34,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of CareTrust REIT by 12.3% in the second quarter. Commonwealth Equity Services LLC now owns 12,596 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 1,375 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CTRE. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, July 1st. Royal Bank of Canada lifted their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Wedbush began coverage on CareTrust REIT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.67.

CareTrust REIT Price Performance

CTRE stock opened at $30.93 on Thursday. The stock has a market cap of $4.39 billion, a PE ratio of 59.48 and a beta of 1.10. CareTrust REIT, Inc. has a 12 month low of $19.79 and a 12 month high of $31.51. The company has a 50-day moving average price of $28.33 and a 200 day moving average price of $25.93. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). The firm had revenue of $68.89 million during the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same period in the previous year, the business earned $0.35 EPS. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 223.08%.

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.