Jane Street Group LLC Sells 261,224 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Jane Street Group LLC lowered its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 77.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,018 shares of the real estate investment trust’s stock after selling 261,224 shares during the quarter. Jane Street Group LLC’s holdings in CareTrust REIT were worth $2,284,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. CWM LLC increased its holdings in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 467 shares during the period. Quantinno Capital Management LP increased its holdings in shares of CareTrust REIT by 3.2% in the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares during the period. United Services Automobile Association raised its position 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 acquiring an additional 540 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of CareTrust REIT by 0.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after purchasing an additional 544 shares during the last quarter. Finally, Pitcairn Co. boosted its position in CareTrust REIT by 5.3% during the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Down 0.5 %

NASDAQ:CTRE opened at $27.22 on Tuesday. The company’s 50 day moving average is $30.04 and its two-hundred day moving average is $28.69. The company has a market cap of $4.67 billion, a PE ratio of 37.81, a P/E/G ratio of 1.59 and a beta of 1.08. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). The firm had revenue of $77.38 million during the quarter, compared to analyst estimates 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 company earned $0.35 earnings per share. 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 will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, KeyCorp upped their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

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.