CareTrust REIT, Inc. (NASDAQ:CTRE) CFO William M. Wagner Sells 35,000 Shares

CareTrust REIT, Inc. (NASDAQ:CTRE) 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 sale, the chief financial officer now owns 257,439 shares in the company, valued at $7,671,682.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $29.92 on Friday. The firm has a market cap of $4.25 billion, a P/E ratio of 57.54 and a beta of 1.09. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $27.42 and its 200-day moving average is $25.43. CareTrust REIT, Inc. has a 12-month low of $19.67 and a 12-month high of $30.33.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The business had revenue of $68.89 million during the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.88%. CareTrust REIT’s payout ratio is 223.08%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in CareTrust REIT in the 2nd quarter worth $34,000. Quest Partners LLC bought a new position in shares of CareTrust REIT in the second quarter worth approximately $40,000. GAMMA Investing LLC boosted its stake in CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,143 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of CareTrust REIT during the fourth quarter valued at $67,000. Finally, Quarry LP boosted its holdings in shares of CareTrust REIT by 536.6% during the 2nd quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 2,613 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTRE. Wedbush assumed coverage on CareTrust REIT in a research report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 target price for the company. Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 1st. KeyCorp raised their price target on shares of CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Finally, Royal Bank of Canada lifted their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.67.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.