Marshall Wace LLP Lowers Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Marshall Wace LLP cut its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,472,973 shares of the real estate investment trust’s stock after selling 165,058 shares during the quarter. Marshall Wace LLP’s holdings in CareTrust REIT were worth $62,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rothschild Investment LLC purchased a new stake in CareTrust REIT in the second quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in CareTrust REIT in the second quarter valued at approximately $40,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 1,143 shares during the period. Spirit of America Management Corp NY purchased a new stake in CareTrust REIT in the second quarter valued at approximately $126,000. Finally, Covestor Ltd grew its holdings in CareTrust REIT by 114,366.7% in the first quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 6,862 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada boosted 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Wedbush initiated coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.40.

CareTrust REIT Trading Down 0.2 %

Shares of CTRE stock opened at $30.87 on Wednesday. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 59.37 and a beta of 1.10. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34. CareTrust REIT, Inc. has a fifty-two week low of $19.87 and a fifty-two week high of $31.51. The firm’s 50 day moving average price is $28.67 and its two-hundred day moving average price is $26.15.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $66.36 million. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, analysts anticipate 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 will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.76%. CareTrust REIT’s payout ratio is currently 223.08%.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $7,671,682.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.75% of the company’s stock.

About CareTrust REIT

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.