BNP Paribas Financial Markets lowered its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 33.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,212 shares of the real estate investment trust's stock after selling 20,829 shares during the quarter. BNP Paribas Financial Markets' holdings in CareTrust REIT were worth $1,272,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. increased its position in CareTrust REIT by 5.4% in the third quarter. D.A. Davidson & CO. now owns 38,120 shares of the real estate investment trust's stock worth $1,176,000 after purchasing an additional 1,948 shares during the period. FMR LLC grew its position in shares of CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock worth $161,240,000 after buying an additional 3,538,798 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of CareTrust REIT by 9.2% during the third quarter. The Manufacturers Life Insurance Company now owns 82,934 shares of the real estate investment trust's stock worth $2,559,000 after buying an additional 6,979 shares during the last quarter. Bank of Montreal Can lifted its holdings in CareTrust REIT by 18.3% in the third quarter. Bank of Montreal Can now owns 98,960 shares of the real estate investment trust's stock valued at $3,044,000 after buying an additional 15,328 shares during the period. Finally, Truvestments Capital LLC boosted its stake in CareTrust REIT by 11.5% in the third quarter. Truvestments Capital LLC now owns 114,007 shares of the real estate investment trust's stock valued at $3,518,000 after acquiring an additional 11,732 shares during the last quarter. Institutional investors own 87.77% of the company's stock.
CareTrust REIT Trading Down 0.1 %
NASDAQ:CTRE traded down $0.04 on Tuesday, reaching $28.80. The company's stock had a trading volume of 2,504,016 shares, compared to its average volume of 1,571,012. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. The business's 50-day moving average price is $30.45 and its two-hundred day moving average price is $28.54. The firm has a market cap of $4.94 billion, a PE ratio of 40.00 and a beta of 1.08. 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 (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (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 quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.
CareTrust REIT Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 4.03%. CareTrust REIT's dividend payout ratio is currently 161.11%.
Analyst Ratings Changes
Several analysts have commented on the stock. Royal Bank of Canada upped their target price 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. KeyCorp increased their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Wells Fargo & Company upgraded CareTrust REIT from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their price target for the company from $34.00 to $32.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.67.
Get Our Latest Report on CareTrust REIT
CareTrust REIT Profile
(
Free Report)
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.
See Also
Before you consider CareTrust REIT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CareTrust REIT wasn't on the list.
While CareTrust REIT currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.