Quantbot Technologies LP Has $3.94 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Quantbot Technologies LP decreased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,692 shares of the real estate investment trust’s stock after selling 41,659 shares during the period. Quantbot Technologies LP’s holdings in CareTrust REIT were worth $3,941,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CTRE. American International Group Inc. raised its position in shares of 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 valued at $1,588,000 after buying an additional 9,765 shares during the last quarter. BOKF NA increased its stake 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. Price T Rowe Associates Inc. MD increased its stake in CareTrust REIT by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 68,534 shares of the real estate investment trust’s stock valued at $1,671,000 after acquiring an additional 9,112 shares during the period. Public Employees Retirement System of Ohio increased its stake in CareTrust REIT by 9.0% in the first quarter. Public Employees Retirement System of Ohio now owns 186,485 shares of the real estate investment trust’s stock valued at $4,545,000 after acquiring an additional 15,436 shares during the period. Finally, California State Teachers Retirement System increased its stake in CareTrust REIT by 13.4% in the first quarter. California State Teachers Retirement System now owns 119,214 shares of the real estate investment trust’s stock valued at $2,905,000 after acquiring an additional 14,100 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. KeyCorp upped their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Trading Down 0.0 %

CTRE opened at $30.02 on Wednesday. The firm’s fifty day moving average is $30.75 and its two-hundred day moving average is $28.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The firm has a market cap of $5.15 billion, a PE ratio of 20.71 and a beta of 1.09. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 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 company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 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.