CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,516 shares of the real estate investment trust’s stock after acquiring an additional 3,777 shares during the quarter. Van ECK Associates Corp’s holdings in CareTrust REIT were worth $756,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of CareTrust REIT during the 2nd quarter worth $27,000. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT during the 2nd quarter worth $34,000. Blue Trust Inc. increased its stake in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares during the last quarter. Quest Partners LLC acquired a new position in shares of CareTrust REIT during the 2nd quarter worth $40,000. Finally, GAMMA Investing LLC increased its stake 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 worth $44,000 after purchasing an additional 1,143 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp raised their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets raised their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada increased their price target 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Stock Down 0.5 %

CareTrust REIT stock opened at $30.77 on Tuesday. The company’s 50 day simple moving average is $30.70 and its 200 day simple moving average is $27.81. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 42.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to the consensus estimate 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 posted $0.35 EPS. As a group, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.77%. CareTrust REIT’s payout ratio is 161.11%.

Insider Buying and Selling

In related 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 in the company, valued at approximately $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.75% of the stock is owned by corporate insiders.

CareTrust REIT Company 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.