US Bancorp DE Acquires 692 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

US Bancorp DE increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,786 shares of the real estate investment trust’s stock after buying an additional 692 shares during the quarter. US Bancorp DE’s holdings in CareTrust REIT were worth $364,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Mutual of America Capital Management LLC lifted its holdings in shares of CareTrust REIT by 7.8% in the first quarter. Mutual of America Capital Management LLC now owns 22,482 shares of the real estate investment trust’s stock worth $548,000 after acquiring an additional 1,634 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in CareTrust REIT by 11.0% in the first quarter. Texas Permanent School Fund Corp now owns 114,215 shares of the real estate investment trust’s stock valued at $2,783,000 after buying an additional 11,322 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of CareTrust REIT during the first quarter worth $335,000. Swiss National Bank increased its holdings in shares of CareTrust REIT by 19.9% during the first quarter. Swiss National Bank now owns 235,149 shares of the real estate investment trust’s stock worth $5,731,000 after buying an additional 39,100 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of CareTrust REIT by 47.5% in the 1st quarter. Sei Investments Co. now owns 607,105 shares of the real estate investment trust’s stock valued at $14,795,000 after acquiring an additional 195,412 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business’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 value of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.75% of the stock is currently owned by insiders.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $30.77 on Wednesday. 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, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The company has a 50 day simple moving average of $30.73 and a two-hundred day simple moving average of $27.85. The company has a market capitalization of $5.28 billion, a PE ratio of 42.74 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $77.38 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.35 EPS. Research analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 3.77%. CareTrust REIT’s payout ratio is 161.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTRE. KeyCorp upped their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company raised 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. BMO Capital Markets lifted their target price 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. Finally, Royal Bank of Canada upped 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.