HighTower Advisors LLC Cuts Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

HighTower Advisors LLC cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 69.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,779 shares of the real estate investment trust’s stock after selling 17,336 shares during the quarter. HighTower Advisors LLC’s holdings in CareTrust REIT were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. bought a new position in CareTrust REIT during the second quarter valued at about $27,000. Blue Trust Inc. raised its position in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares during the period. Rothschild Investment LLC purchased a new position in CareTrust REIT in the second quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of CareTrust REIT during the 2nd quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P increased its stake in shares of CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,990 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Trading Up 0.6 %

NASDAQ:CTRE opened at $27.39 on Wednesday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The stock’s fifty day moving average price is $29.97 and its two-hundred day moving average price is $28.70. 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 company has a market cap of $4.70 billion, a P/E ratio of 38.04, a P/E/G ratio of 1.59 and a beta of 1.08.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period last year, the company posted $0.35 EPS. As a group, analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.24%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several research analyst reports. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp upped their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

About CareTrust REIT

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.