KBC Group NV Purchases 869 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

KBC Group NV grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 32.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,534 shares of the real estate investment trust’s stock after buying an additional 869 shares during the period. KBC Group NV’s holdings in CareTrust REIT were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CTRE. Victory Capital Management Inc. boosted its position in shares of CareTrust REIT by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust’s stock valued at $25,784,000 after acquiring an additional 56,015 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of CareTrust REIT by 6.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 167,608 shares of the real estate investment trust’s stock valued at $5,172,000 after purchasing an additional 10,460 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after purchasing an additional 544 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in CareTrust REIT during the 3rd quarter worth $278,000. Finally, Los Angeles Capital Management LLC bought a new stake in CareTrust REIT during the 3rd quarter valued at $708,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company’s 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 in the company, valued at approximately $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.75% of the company’s stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $30.69 on Friday. 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 debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company has a market cap of $5.26 billion, a PE ratio of 42.62 and a beta of 1.09. The business has a 50-day simple moving average of $30.79 and a two-hundred day simple moving average of $28.06.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data 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). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The company had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal 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 issued 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 3.78%. CareTrust REIT’s dividend payout ratio (DPR) is presently 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.