Sanctuary Advisors LLC Raises Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Sanctuary Advisors LLC boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,186 shares of the real estate investment trust’s stock after purchasing an additional 2,081 shares during the period. Sanctuary Advisors LLC’s holdings in CareTrust REIT were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after buying an additional 3,538,798 shares during the period. Heitman Real Estate Securities LLC purchased a new position in shares of CareTrust REIT in the third quarter valued at $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CareTrust REIT by 344.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after purchasing an additional 737,236 shares in the last quarter. Wellington Management Group LLP boosted its stake in CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after purchasing an additional 670,348 shares during the period. Finally, State Street Corp increased its position in shares of CareTrust REIT by 6.7% during the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after buying an additional 520,783 shares during the period. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

CareTrust REIT Stock Up 0.1 %

Shares of NASDAQ:CTRE opened at $27.43 on Friday. The firm has a market capitalization of $4.70 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. 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, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The firm has a fifty day moving average of $29.90 and a 200 day moving average of $28.69.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.23%. CareTrust REIT’s payout ratio is 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.