ProShare Advisors LLC Sells 5,505 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

ProShare Advisors LLC reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,906 shares of the real estate investment trust’s stock after selling 5,505 shares during the quarter. ProShare Advisors LLC’s holdings in CareTrust REIT were worth $475,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in CareTrust REIT by 15.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 255,783 shares of the real estate investment trust’s stock valued at $6,420,000 after purchasing an additional 34,654 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of CareTrust REIT by 8.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 89,927 shares of the real estate investment trust’s stock worth $2,257,000 after buying an additional 7,242 shares in the last quarter. MQS Management LLC bought a new stake in CareTrust REIT during the second quarter valued at $541,000. Hsbc Holdings PLC grew its position in CareTrust REIT by 25.4% during the second quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust’s stock worth $2,618,000 after buying an additional 21,145 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in CareTrust REIT by 13.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,366 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CTRE shares. Royal Bank of Canada boosted their price objective on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.40.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $30.85 on Tuesday. CareTrust REIT, Inc. has a 1-year low of $19.87 and a 1-year high of $31.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The business has a 50 day moving average of $28.99 and a 200 day moving average of $26.36. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 59.33 and a beta of 1.10.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The business had revenue of $68.89 million during the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same period last year, the company posted $0.35 EPS. On average, sell-side analysts predict that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.76%. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Insider Activity

In related news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.75% of the stock is currently owned by corporate insiders.

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.