6,816 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,816 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRE. Newbridge Financial Services Group Inc. purchased a new stake in shares of CareTrust REIT in the second quarter worth approximately $27,000. Rothschild Investment LLC purchased a new stake in CareTrust REIT in the 2nd quarter valued at $34,000. Blue Trust Inc. lifted its stake in CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 772 shares in the last quarter. Quest Partners LLC purchased a new position in CareTrust REIT during the 2nd quarter worth $40,000. Finally, GAMMA Investing LLC grew its stake in shares of CareTrust REIT by 187.7% in the 2nd 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 in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 0.4 %

NASDAQ:CTRE opened at $29.91 on Thursday. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. 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’s 50 day moving average is $30.73 and its 200 day moving average is $28.24. The stock has a market capitalization of $5.13 billion, a PE ratio of 41.54 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 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. During the same period in the prior year, the company earned $0.35 EPS. Sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current 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 paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.88%. CareTrust REIT’s payout ratio is 161.11%.

Insider Activity

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction that occurred on 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 directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. The trade was a 11.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CTRE shares. KeyCorp boosted their price target on shares of 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 target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets increased their price target on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, 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 research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.