BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 approximately 0.14% of CareTrust REIT at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CTRE. CWM LLC raised its stake in CareTrust REIT by 16.8% during the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 467 shares in the last quarter. United Services Automobile Association increased its position in shares of CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust's stock worth $282,000 after purchasing an additional 540 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of CareTrust REIT by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock valued at $4,678,000 after purchasing an additional 544 shares during the last quarter. US Bancorp DE boosted its holdings in shares of CareTrust REIT by 6.2% in the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust's stock valued at $364,000 after acquiring an additional 692 shares during the period. Finally, Blue Trust Inc. grew its position in shares of CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 772 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now owns 257,439 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded down $0.27 on Monday, reaching $30.03. 4,882,142 shares of the company were exchanged, compared to its average volume of 1,561,824. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 41.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company's 50-day moving average is $30.77 and its two-hundred day moving average is $28.17.

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

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid 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 3.86%. CareTrust REIT's dividend payout ratio is currently 161.11%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTRE. KeyCorp increased their price objective on CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research 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 stock an "outperform" rating in a report on Thursday, August 22nd. BMO Capital Markets boosted their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a research note 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 objective for the stock 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

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.