23,640 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by Assetmark Inc.

Assetmark Inc. purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,640 shares of the real estate investment trust's stock, valued at approximately $730,000.

Several other large investors have also added to or reduced their stakes in CTRE. Hsbc Holdings PLC lifted its position in CareTrust REIT by 25.4% during the second quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust's stock valued at $2,618,000 after purchasing an additional 21,145 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of CareTrust REIT by 32.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust's stock valued at $3,052,000 after buying an additional 30,619 shares during the period. Vanguard Group Inc. boosted its stake in shares of CareTrust REIT by 13.3% in the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust's stock worth $493,925,000 after buying an additional 2,376,832 shares during the last quarter. Raymond James & Associates grew its holdings in CareTrust REIT by 10.6% during the third quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust's stock worth $21,138,000 after acquiring an additional 65,756 shares during the period. Finally, Boston Partners purchased a new position in CareTrust REIT during the first quarter valued at approximately $968,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

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

CareTrust REIT Stock Up 1.3 %

CareTrust REIT stock traded up $0.40 during trading on Friday, reaching $30.33. The stock had a trading volume of 1,927,664 shares, compared to its average volume of 1,548,028. The stock has a market cap of $5.20 billion, a PE ratio of 42.13 and a beta of 1.09. The business has a 50 day moving average price of $30.75 and a 200 day moving average price of $27.95. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly 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 business had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the prior year, the company earned $0.35 EPS. On average, analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.82%. CareTrust REIT's dividend payout ratio (DPR) is currently 161.11%.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now owns 257,439 shares of the company's stock, valued at approximately $7,671,682.20. The trade was a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.75% of the company's stock.

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.