CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Castle Hook Partners LP

Castle Hook Partners LP trimmed its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,000 shares of the real estate investment trust’s stock after selling 6,767 shares during the period. Castle Hook Partners LP owned about 0.16% of CareTrust REIT worth $8,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CTRE. FMR LLC boosted its position in CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in CareTrust REIT during the second quarter worth $11,119,000. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 281,120 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in CareTrust REIT during the third quarter valued at $7,475,000. Finally, Manning & Napier Advisors LLC purchased a new position in CareTrust REIT in the second quarter valued at $4,764,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $29.91 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The business has a 50 day simple moving average of $30.71 and a two-hundred day simple moving average of $28.25. The stock has a market capitalization of $5.13 billion, a P/E ratio of 41.54 and a beta of 1.09. 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 data 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). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 dividend on an annualized basis and a yield of 3.88%. CareTrust REIT’s payout ratio is presently 161.11%.

Insider Activity at CareTrust REIT

In related 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 of the company’s stock, valued at approximately $7,671,682.20. This trade represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% 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.