Cwm LLC Increases Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Cwm LLC raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 16.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,244 shares of the real estate investment trust’s stock after acquiring an additional 467 shares during the period. Cwm LLC’s holdings in CareTrust REIT were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CTRE. United Services Automobile Association grew its stake in shares of CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 540 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of CareTrust REIT by 4.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after purchasing an additional 895 shares during the period. Creative Planning boosted its stake in shares of 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 purchasing an additional 1,071 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of CareTrust REIT during the second quarter valued at $27,000. Finally, GAMMA Investing LLC lifted its stake 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 during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of research reports. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price objective 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. Royal Bank of Canada upped their price objective 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. BMO Capital Markets upped 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 target price on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE opened at $30.94 on Friday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $31.51. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 59.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The business’s 50 day moving average price is $30.24 and its 200-day moving average price is $27.17.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The business had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. During the same quarter last year, the business earned $0.35 EPS. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 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. Investors of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 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.