Castle Hook Partners LP Trims Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Castle Hook Partners LP lowered its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,000 shares of the real estate investment trust’s stock after selling 6,767 shares during the period. Castle Hook Partners LP’s holdings in CareTrust REIT were worth $8,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT in the second quarter valued at approximately $27,000. Rothschild Investment LLC acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at $34,000. Blue Trust Inc. grew its holdings in shares of 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 worth $37,000 after purchasing an additional 772 shares during the period. Quest Partners LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth about $40,000. Finally, GAMMA Investing LLC raised its holdings in 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 valued at $44,000 after buying an additional 1,143 shares during the period. Hedge funds and other 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 one year low of $20.10 and a one year high of $33.15. The firm has a 50 day simple moving average of $30.71 and a 200-day simple moving average of $28.25. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 41.54 and a beta of 1.09. 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 (NASDAQ:CTRE) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same quarter last year, the firm earned $0.35 EPS. Equities research analysts anticipate 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. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.88%. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several research analyst reports. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets upped their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Royal Bank of Canada lifted their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp boosted their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Insider Buying and Selling at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the 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 sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This represents a 11.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is 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.