D.A. Davidson & CO. Has $1.18 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

D.A. Davidson & CO. boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,120 shares of the real estate investment trust’s stock after purchasing an additional 1,948 shares during the quarter. D.A. Davidson & CO.’s holdings in CareTrust REIT were worth $1,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in CareTrust REIT by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,534 shares of the real estate investment trust’s stock valued at $1,671,000 after acquiring an additional 9,112 shares in the last quarter. California State Teachers Retirement System raised its stake in CareTrust REIT by 13.4% in the first quarter. California State Teachers Retirement System now owns 119,214 shares of the real estate investment trust’s stock valued at $2,905,000 after purchasing an additional 14,100 shares in the last quarter. Tidal Investments LLC raised its stake in CareTrust REIT by 29.9% in the first quarter. Tidal Investments LLC now owns 54,370 shares of the real estate investment trust’s stock valued at $1,325,000 after purchasing an additional 12,500 shares in the last quarter. Virtu Financial LLC bought a new stake in CareTrust REIT during the first quarter worth about $200,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in CareTrust REIT by 32.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust’s stock worth $3,052,000 after buying an additional 30,619 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $7,671,682.20. The trade was a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of recent analyst reports. Royal Bank of Canada upped 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. BMO Capital Markets boosted their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, KeyCorp boosted their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Down 0.4 %

Shares of NASDAQ:CTRE opened at $29.79 on Monday. 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, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The company has a market capitalization of $5.11 billion, a PE ratio of 41.38 and a beta of 1.09. The company has a fifty day moving average of $30.68 and a 200-day moving average of $28.35.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results 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 firm had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s payout ratio is 161.11%.

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.