CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 428,699 shares of the real estate investment trust’s stock after purchasing an additional 78,560 shares during the quarter. Eagle Asset Management Inc. owned 0.25% of CareTrust REIT worth $13,264,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CTRE. State Board of Administration of Florida Retirement System boosted its holdings in CareTrust REIT by 31.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,545 shares of the real estate investment trust’s stock valued at $915,000 after purchasing an additional 8,940 shares during the last quarter. Vanguard Group Inc. grew its holdings in CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after acquiring an additional 2,376,832 shares during the period. American International Group Inc. grew its holdings in CareTrust REIT by 17.6% during the first quarter. American International Group Inc. now owns 65,180 shares of the real estate investment trust’s stock worth $1,588,000 after acquiring an additional 9,765 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in CareTrust REIT by 17.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 288,206 shares of the real estate investment trust’s stock valued at $7,024,000 after acquiring an additional 42,079 shares during the period. Finally, BOKF NA lifted its holdings in CareTrust REIT by 35.7% in the first quarter. BOKF NA now owns 10,437 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 2,744 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 1.4 %

Shares of CareTrust REIT stock opened at $30.30 on Friday. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The firm’s 50-day moving average price is $30.77 and its 200 day moving average price is $28.12. 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 firm has a market capitalization of $5.19 billion, a PE ratio of 42.08 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly 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). 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 during the quarter, compared to analyst estimates of $74.12 million. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, sell-side 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. Stockholders 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 dividend yield of 3.83%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s payout ratio is 161.11%.

Analyst Ratings Changes

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

Insider Transactions at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the company’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 approximately $7,671,682.20. This represents a 11.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.75% 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.