Capital Square LLC Reduces Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Capital Square LLC trimmed its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,646 shares of the real estate investment trust’s stock after selling 8,234 shares during the period. CareTrust REIT makes up 1.8% of Capital Square LLC’s investment portfolio, making the stock its 12th biggest holding. Capital Square LLC’s holdings in CareTrust REIT were worth $2,952,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American International Group Inc. increased its holdings in CareTrust REIT by 17.6% during the 1st quarter. American International Group Inc. now owns 65,180 shares of the real estate investment trust’s stock worth $1,588,000 after acquiring an additional 9,765 shares during the period. BOKF NA boosted its stake in CareTrust REIT by 35.7% during the first quarter. BOKF NA now owns 10,437 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 2,744 shares during the period. Price T Rowe Associates Inc. MD increased its stake in CareTrust REIT by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,534 shares of the real estate investment trust’s stock worth $1,671,000 after acquiring an additional 9,112 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in CareTrust REIT by 9.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 186,485 shares of the real estate investment trust’s stock worth $4,545,000 after acquiring an additional 15,436 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of CareTrust REIT by 13.4% in the 1st quarter. California State Teachers Retirement System now owns 119,214 shares of the real estate investment trust’s stock valued at $2,905,000 after acquiring an additional 14,100 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.4 %

NASDAQ CTRE traded up $0.11 during trading on Monday, hitting $30.41. 49,155 shares of the company’s stock traded hands, compared to its average volume of 1,540,627. The firm has a market cap of $5.21 billion, a P/E ratio of 20.90 and a beta of 1.09. The stock has a fifty day moving average of $30.77 and a two-hundred day moving average of $28.17. 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, Inc. has a 12-month low of $20.10 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS 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 analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period last year, the firm earned $0.35 earnings per share. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.81%. CareTrust REIT’s payout ratio is currently 161.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTRE. BMO Capital Markets boosted their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp raised their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada upped their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Insiders Place Their Bets

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction that occurred 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 owns 257,439 shares in the company, valued at approximately $7,671,682.20. This trade represents a 11.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

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.