Trust Co. of Toledo NA OH Acquires 3,132 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Trust Co. of Toledo NA OH increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,450 shares of the real estate investment trust’s stock after acquiring an additional 3,132 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in CareTrust REIT were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CTRE. United Services Automobile Association increased its stake in shares of 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 purchasing an additional 540 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 valued at $559,000 after buying an additional 895 shares in the last quarter. Creative Planning raised its stake in CareTrust REIT by 3.1% during the second quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock valued at $887,000 after buying an additional 1,071 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT in the second quarter worth $27,000. Finally, GAMMA Investing LLC boosted 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 worth $44,000 after acquiring an additional 1,143 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Down 0.1 %

CTRE opened at $30.63 on Friday. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 58.89 and a beta of 1.10. The firm has a 50 day moving average price of $29.14 and a 200-day moving average price of $26.44. CareTrust REIT, Inc. has a twelve month low of $19.89 and a twelve month high of $31.51. 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 (NASDAQ:CTRE) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The company had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.79%. CareTrust REIT’s payout ratio is 223.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CTRE shares. 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Insider Buying and Selling at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.