Loomis Sayles & Co. L P Increases Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Loomis Sayles & Co. L P increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5,527.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,026 shares of the real estate investment trust’s stock after purchasing an additional 1,990 shares during the quarter. Loomis Sayles & Co. L P’s holdings in CareTrust REIT were worth $63,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in CareTrust REIT during the second quarter worth approximately $27,000. Blue Trust Inc. lifted its stake in CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares during the last quarter. Rothschild Investment LLC purchased a new stake in CareTrust REIT during the second quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in CareTrust REIT during the second quarter worth approximately $40,000. Finally, GAMMA Investing LLC lifted its stake in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 0.4 %

NASDAQ:CTRE opened at $29.91 on Friday. The firm has a market cap of $5.13 billion, a P/E ratio of 41.54 and a beta of 1.09. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $30.71 and its 200-day simple moving average is $28.25. CareTrust REIT, Inc. has a 12-month low of $20.10 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results 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 company had revenue of $77.38 million during the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.35 EPS. Equities analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.88%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTRE. BMO Capital Markets boosted their target price on 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 lifted their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. Finally, KeyCorp lifted their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and an average price target of $31.00.

Insider Activity at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT 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 sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The trade was a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

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.