ProShare Advisors LLC Sells 5,505 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

ProShare Advisors LLC decreased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,906 shares of the real estate investment trust’s stock after selling 5,505 shares during the period. ProShare Advisors LLC’s holdings in CareTrust REIT were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CTRE. Norges Bank purchased a new position in shares of CareTrust REIT during the fourth quarter valued at approximately $18,640,000. Steward Partners Investment Advisory LLC boosted its holdings in CareTrust REIT by 520.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,040 shares of the real estate investment trust’s stock valued at $448,000 after acquiring an additional 16,810 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in CareTrust REIT during the 4th quarter valued at $4,978,000. Dean Capital Management raised its holdings in CareTrust REIT by 10.4% in the 4th quarter. Dean Capital Management now owns 36,812 shares of the real estate investment trust’s stock worth $824,000 after purchasing an additional 3,476 shares in the last quarter. Finally, Heitman Real Estate Securities LLC lifted its position in shares of CareTrust REIT by 32.8% in the 4th quarter. Heitman Real Estate Securities LLC now owns 775,490 shares of the real estate investment trust’s stock worth $17,355,000 after purchasing an additional 191,456 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.3 %

Shares of CareTrust REIT stock opened at $30.85 on Tuesday. CareTrust REIT, Inc. has a 1 year low of $19.87 and a 1 year high of $31.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The company has a 50-day moving average of $28.99 and a 200 day moving average of $26.36. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 59.33 and a beta of 1.10.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). The business had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 223.08%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, July 1st. Royal Bank of Canada upped their target price on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.40.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction dated Wednesday, September 4th. The stock was 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 of the company’s stock, valued at approximately $7,671,682.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.75% of the company’s stock.

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.