Natixis Advisors LLC Sells 1,200 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Natixis Advisors LLC reduced its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,610 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Natixis Advisors LLC owned about 0.06% of CareTrust REIT worth $3,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after acquiring an additional 2,376,832 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of CareTrust REIT in the 1st quarter worth $41,763,000. Tributary Capital Management LLC bought a new position in shares of CareTrust REIT during the second quarter valued at about $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 purchasing an additional 281,120 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in CareTrust REIT in the 2nd quarter worth about $4,764,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $30.30 on Friday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. 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 stock’s fifty day moving average price is $30.77 and its two-hundred day moving average price is $28.12. The firm has a market cap of $5.19 billion, a PE ratio of 42.08 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $77.38 million for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.35 earnings per share. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently announced 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 was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.83%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Insider Activity

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 257,439 shares in the company, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTRE shares. KeyCorp lifted their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. 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 research report on Monday, October 7th. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada boosted 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.