CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Swiss National Bank

Swiss National Bank raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,349 shares of the real estate investment trust’s stock after buying an additional 11,800 shares during the period. Swiss National Bank owned about 0.16% of CareTrust REIT worth $8,559,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of 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. Zimmer Partners LP acquired a new stake in shares of CareTrust REIT during the 1st quarter valued at approximately $41,763,000. Principal Financial Group Inc. raised its position in shares of CareTrust REIT by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after acquiring an additional 41,623 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of CareTrust REIT by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust’s stock valued at $25,784,000 after acquiring an additional 56,015 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of CareTrust REIT by 10.6% during the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock valued at $21,138,000 after acquiring an additional 65,756 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Down 0.9 %

NASDAQ:CTRE opened at $30.03 on Tuesday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 41.71 and a beta of 1.09. The business has a fifty day moving average of $30.77 and a 200-day moving average of $28.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. During the same period in the previous year, the company posted $0.35 EPS. Equities analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.86%. CareTrust REIT’s payout ratio is 161.11%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTRE. 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 research report on Thursday, August 22nd. BMO Capital Markets upped their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. KeyCorp upped their price objective 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 upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 257,439 shares in the company, valued at $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

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.