CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,692 shares of the real estate investment trust’s stock after selling 41,659 shares during the period. Quantbot Technologies LP owned 0.07% of CareTrust REIT worth $3,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. CWM LLC raised its holdings in shares of 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 last quarter. United Services Automobile Association raised its holdings in CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 540 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in CareTrust REIT by 0.4% during the third 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 in the last quarter. Pitcairn Co. raised its holdings 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 worth $415,000 after purchasing an additional 671 shares in the last quarter. Finally, US Bancorp DE raised its holdings in CareTrust REIT by 6.2% during the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 692 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

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

CareTrust REIT Trading Down 0.0 %

Shares of NASDAQ:CTRE opened at $30.02 on Wednesday. The stock has a market capitalization of $5.15 billion, a PE ratio of 20.71 and a beta of 1.09. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The firm has a fifty day moving average price of $30.75 and a 200 day moving average price of $28.20. 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 issued its quarterly earnings data 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). The business had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the company posted $0.35 earnings per share. Analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. 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 presently 161.11%.

Insider Buying and Selling

In other CareTrust REIT 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 completion of the transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The trade was a 11.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

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.