Nisa Investment Advisors LLC Lowers Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Nisa Investment Advisors LLC decreased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.8% in the 3rd quarter, Holdings Channel reports. The firm owned 43,682 shares of the real estate investment trust’s stock after selling 4,743 shares during the period. Nisa Investment Advisors LLC’s holdings in CareTrust REIT were worth $1,362,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CTRE. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT during the second quarter valued at approximately $27,000. Blue Trust Inc. grew its position in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares in the last quarter. Rothschild Investment LLC bought a new position in CareTrust REIT in the second quarter valued at $34,000. Quest Partners LLC purchased a new stake in CareTrust REIT during the second quarter valued at about $40,000. Finally, GAMMA Investing LLC lifted its stake in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTRE. 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 research report on Monday, October 7th. KeyCorp increased their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $32.37 on Monday. The company has a market capitalization of $5.55 billion, a P/E ratio of 44.96 and a beta of 1.09. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.37 and a current ratio of 7.60. The stock has a 50 day moving average price of $30.58 and a two-hundred day moving average price of $27.49.

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

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. CareTrust REIT’s payout ratio is presently 161.11%.

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.