Benjamin Edwards Inc. Invests $2.23 Million in CareTrust REIT, Inc. (NASDAQ:CTRE)

Benjamin Edwards Inc. bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 72,248 shares of the real estate investment trust's stock, valued at approximately $2,229,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. Atom Investors LP acquired a new position in shares of CareTrust REIT during the 3rd quarter worth $454,000. FSA Wealth Management LLC purchased a new position in shares of CareTrust REIT in the 3rd quarter worth about $80,000. Erste Asset Management GmbH purchased a new stake in CareTrust REIT during the 3rd quarter worth $1,206,000. Edgestream Partners L.P. purchased a new stake in shares of CareTrust REIT during the third quarter valued at approximately $445,000. Finally, Walleye Capital LLC purchased a new stake in CareTrust REIT during the 3rd quarter worth approximately $223,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRE has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. KeyCorp increased their price objective 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. BMO Capital Markets lifted their target price on CareTrust REIT from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Finally, Royal Bank of Canada increased their price objective on CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Price Performance

CareTrust REIT stock traded up $0.02 during trading hours on Thursday, hitting $29.45. 1,080,830 shares of the stock were exchanged, compared to its average volume of 1,563,152. The business's 50-day moving average is $30.58 and its two-hundred day moving average is $28.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The stock has a market capitalization of $5.05 billion, a P/E ratio of 20.11 and a beta of 1.07.

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 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal 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 paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.94%. The ex-dividend date was Monday, September 30th. CareTrust REIT's payout ratio is 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.