CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Decreased by Stifel Financial Corp

Stifel Financial Corp decreased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,350 shares of the real estate investment trust’s stock after selling 5,492 shares during the quarter. Stifel Financial Corp’s holdings in CareTrust REIT were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CTRE. Allspring Global Investments Holdings LLC grew its position in shares of CareTrust REIT by 27.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 29,227 shares of the real estate investment trust’s stock worth $734,000 after acquiring an additional 6,281 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CareTrust REIT by 26.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,126 shares of the real estate investment trust’s stock worth $1,308,000 after purchasing an additional 10,897 shares during the period. Principal Financial Group Inc. increased its stake in CareTrust REIT by 5.1% during the second quarter. Principal Financial Group Inc. now owns 796,683 shares of the real estate investment trust’s stock valued at $19,997,000 after purchasing an additional 38,620 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of CareTrust REIT by 5.3% during the second quarter. Maryland State Retirement & Pension System now owns 49,532 shares of the real estate investment trust’s stock worth $1,243,000 after purchasing an additional 2,507 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of CareTrust REIT in the 2nd quarter worth about $34,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CTRE shares. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. KeyCorp upped their price objective on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $27.39 on Thursday. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The firm has a market capitalization of $4.70 billion, a PE ratio of 38.04, a P/E/G ratio of 1.59 and a beta of 1.08. The company’s 50 day simple moving average is $29.97 and its 200 day simple moving average is $28.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $74.12 million. During the same period in the prior year, the firm posted $0.35 EPS. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.24%. CareTrust REIT’s payout ratio is currently 161.11%.

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.