Daiwa Securities Group Inc. Has $7.60 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Daiwa Securities Group Inc. reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 246,268 shares of the real estate investment trust’s stock after selling 9,298 shares during the period. Daiwa Securities Group Inc. owned about 0.14% of CareTrust REIT worth $7,600,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in CareTrust REIT during the second quarter worth approximately $27,000. Rothschild Investment LLC acquired a new stake in CareTrust REIT during the second quarter worth approximately $34,000. Blue Trust Inc. lifted its position 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 acquiring an additional 772 shares during the last quarter. Quest Partners LLC acquired a new stake in CareTrust REIT during the second quarter worth approximately $40,000. Finally, GAMMA Investing LLC lifted its position 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 acquiring an additional 1,143 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTRE shares. KeyCorp lifted their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets lifted their price target 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. Royal Bank of Canada lifted their price target on shares of 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 upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Insider Transactions at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

CareTrust REIT Stock Down 0.9 %

Shares of CTRE opened at $30.03 on Tuesday. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15. The company has a market cap of $5.15 billion, a P/E ratio of 41.71 and a beta of 1.09. 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 firm has a 50 day simple moving average of $30.77 and a two-hundred day simple moving average of $28.17.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). The company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter last year, the company posted $0.35 earnings per share. Research analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.86%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

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.