CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,092 shares of the real estate investment trust’s stock after selling 365 shares during the period. Raymond James Trust N.A.’s holdings in CareTrust REIT were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of CareTrust REIT by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust’s stock worth $71,689,000 after buying an additional 132,874 shares in the last quarter. Dimensional Fund Advisors LP raised its position in CareTrust REIT by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after acquiring an additional 281,120 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of CareTrust REIT in the first quarter valued at about $41,763,000. Principal Financial Group Inc. grew its position in shares of CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after purchasing an additional 41,623 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of CareTrust REIT by 7.2% in the third quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust’s stock valued at $25,784,000 after purchasing an additional 56,015 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

CTRE has been the topic of a number of recent research reports. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Royal Bank of Canada boosted their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. KeyCorp increased their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets boosted 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. Two investment analysts have rated the stock with a hold rating and four 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 a consensus price target of $31.00.

Insider Buying and Selling at CareTrust REIT

In related 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 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. This trade represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

CareTrust REIT Price Performance

CTRE stock opened at $30.03 on Tuesday. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 41.71 and a beta of 1.09. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The stock’s fifty day simple moving average is $30.77 and its 200-day simple moving average is $28.17.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same period in the previous year, the business posted $0.35 earnings per share. Equities research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 161.11%.

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.