CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.8% in the 3rd quarter, Holdings Channel reports. The firm owned 20,092 shares of the real estate investment trust’s stock after selling 365 shares during the quarter. Raymond James Trust N.A.’s holdings in CareTrust REIT were worth $620,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CTRE. Charles Schwab Investment Management Inc. boosted its position in shares of CareTrust REIT by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust’s stock worth $71,689,000 after buying an additional 132,874 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CareTrust REIT by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after acquiring an additional 281,120 shares during the period. Zimmer Partners LP acquired a new stake in CareTrust REIT in the first quarter valued at approximately $41,763,000. Principal Financial Group Inc. raised its stake in shares of CareTrust REIT by 5.2% during the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after purchasing an additional 41,623 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of CareTrust REIT by 7.2% during the third quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust’s stock worth $25,784,000 after purchasing an additional 56,015 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $30.03 on Tuesday. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 41.71 and a beta of 1.09. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15. The company’s 50-day simple moving average is $30.77 and its 200-day simple moving average is $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 earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same period in the prior year, the business earned $0.35 EPS. Equities analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share 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 paid a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.86%. CareTrust REIT’s payout ratio is 161.11%.

Insiders Place Their Bets

In related news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This represents a 11.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CTRE has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp lifted their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada boosted their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, BMO Capital Markets raised their price objective on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.