Nicola Wealth Management LTD. Sells 5,800 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Nicola Wealth Management LTD. reduced its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,505 shares of the real estate investment trust’s stock after selling 5,800 shares during the period. Nicola Wealth Management LTD.’s holdings in CareTrust REIT were worth $663,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of CareTrust REIT during the third quarter worth $500,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in CareTrust REIT by 41.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,514 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 1,626 shares in the last quarter. abrdn plc raised its stake in shares of CareTrust REIT by 14.9% in the 3rd quarter. abrdn plc now owns 28,125 shares of the real estate investment trust’s stock valued at $868,000 after purchasing an additional 3,648 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of CareTrust REIT by 2.0% in the third quarter. New York State Teachers Retirement System now owns 200,568 shares of the real estate investment trust’s stock valued at $6,190,000 after purchasing an additional 3,979 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of CareTrust REIT in the third quarter valued at about $220,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 2.0 %

Shares of CareTrust REIT stock opened at $26.39 on Tuesday. The stock has a market cap of $4.95 billion, a P/E ratio of 33.40, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12-month low of $22.80 and a 12-month high of $33.15. The business’s 50 day moving average is $26.53 and its 200-day moving average is $28.82.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the prior year, the company posted $0.25 earnings per share. Equities research analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.40%. CareTrust REIT’s dividend payout ratio is 146.84%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTRE. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada reduced their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.83.

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.