BNP PARIBAS ASSET MANAGEMENT Holding S.A. Invests $7.48 Million in CareTrust REIT, Inc. (NASDAQ:CTRE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 242,208 shares of the real estate investment trust’s stock, valued at approximately $7,475,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.14% of CareTrust REIT as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Zimmer Partners LP bought a new position in shares of CareTrust REIT in the 1st quarter worth $41,763,000. Tributary Capital Management LLC bought a new position in CareTrust REIT in the second quarter valued at $11,119,000. Dimensional Fund Advisors LP raised its position in CareTrust REIT by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock valued at $51,626,000 after purchasing an additional 281,120 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in CareTrust REIT during the second quarter worth about $4,764,000. Finally, Quantbot Technologies LP boosted its holdings in shares of CareTrust REIT by 398.2% in the 2nd quarter. Quantbot Technologies LP now owns 169,351 shares of the real estate investment trust’s stock worth $4,251,000 after purchasing an additional 135,357 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In related news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were 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 directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CTRE shares. KeyCorp raised 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. Royal Bank of Canada boosted their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. BMO Capital Markets increased their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Trading Down 1.4 %

NASDAQ:CTRE opened at $30.30 on Monday. The firm has a market capitalization of $5.19 billion, a P/E ratio of 42.08 and a beta of 1.09. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $30.77 and a 200 day moving average of $28.17. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, research analysts predict 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 issued a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.83%. CareTrust REIT’s dividend payout ratio is presently 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.