CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.2% in the third quarter, HoldingsChannel reports. The firm owned 17,097 shares of the real estate investment trust’s stock after acquiring an additional 533 shares during the period. Quantinno Capital Management LP’s holdings in CareTrust REIT were worth $528,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Heitman Real Estate Securities LLC acquired a new position in shares of CareTrust REIT in the third quarter worth $27,534,000. Benjamin Edwards Inc. acquired a new position in CareTrust REIT in the 3rd quarter valued at about $2,229,000. Atom Investors LP purchased a new position in CareTrust REIT in the 3rd quarter valued at about $454,000. FSA Wealth Management LLC acquired a new stake in shares of CareTrust REIT during the 3rd quarter worth about $80,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of CareTrust REIT during the third quarter worth about $1,206,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.5 %

Shares of CTRE opened at $28.81 on Friday. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The stock’s 50-day moving average is $30.34 and its two-hundred day moving average is $28.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The stock has a market cap of $4.94 billion, a PE ratio of 40.01, a P/E/G ratio of 1.59 and a beta of 1.07.

CareTrust REIT (NASDAQ:CTRE) last released 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 company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same period last year, the firm posted $0.35 earnings per share. Equities analysts forecast that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on CTRE shares. Royal Bank of Canada lifted their target price 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. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. KeyCorp raised their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.