GAMMA Investing LLC Has $100,000 Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

GAMMA Investing LLC boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 85.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,243 shares of the real estate investment trust’s stock after buying an additional 1,491 shares during the period. GAMMA Investing LLC’s holdings in CareTrust REIT were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new position in CareTrust REIT in the 2nd quarter worth about $27,000. Rothschild Investment LLC acquired a new position in CareTrust REIT in the 2nd quarter worth about $34,000. Quest Partners LLC acquired a new position in CareTrust REIT in the 2nd quarter worth about $40,000. Quarry LP increased its position in CareTrust REIT by 536.6% in the 2nd quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 2,613 shares during the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in CareTrust REIT in the 2nd quarter worth about $126,000. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $30.18 on Tuesday. The business has a 50 day moving average price of $29.69 and a 200 day moving average price of $26.80. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $31.51. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 58.04 and a beta of 1.10. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34.

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

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.84%. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTRE. Royal Bank of Canada increased their price objective on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp increased their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets increased their price objective on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Insiders Place Their Bets

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.