De Lisle Partners LLP Invests $959,000 in CareTrust REIT, Inc. (NASDAQ:CTRE)

De Lisle Partners LLP purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,073 shares of the real estate investment trust's stock, valued at approximately $959,000.

Other large investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth $27,000. Rothschild Investment LLC acquired a new stake in CareTrust REIT during the second quarter worth about $34,000. Blue Trust Inc. raised its holdings in shares of CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 772 shares during the period. Quest Partners LLC acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at about $40,000. Finally, GAMMA Investing LLC grew its holdings in shares of CareTrust REIT by 187.7% during the 2nd 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 period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Buying and Selling at CareTrust REIT

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 owns 257,439 shares in the company, valued at $7,671,682.20. This represents a 11.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, October 7th. KeyCorp lifted their target price on shares of 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 increased their price target on CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company upgraded 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 research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Down 0.4 %

CareTrust REIT stock traded down $0.12 during midday trading on Friday, hitting $29.79. The stock had a trading volume of 949,954 shares, compared to its average volume of 1,560,415. The business has a fifty day moving average price of $30.69 and a 200 day moving average price of $28.27. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The stock has a market cap of $5.11 billion, a P/E ratio of 20.63 and a beta of 1.09. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

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

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.89%. The ex-dividend date was Monday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is 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.