Eagle Asset Management Inc. Has $13.26 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Eagle Asset Management Inc. boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 22.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 428,699 shares of the real estate investment trust's stock after acquiring an additional 78,560 shares during the period. Eagle Asset Management Inc. owned 0.25% of CareTrust REIT worth $13,264,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of CareTrust REIT by 13.3% during 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 purchasing an additional 2,376,832 shares during the period. Zimmer Partners LP bought a new stake in shares of CareTrust REIT in the 1st quarter valued at about $41,763,000. Tributary Capital Management LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at approximately $11,119,000. Dimensional Fund Advisors LP boosted its stake in CareTrust REIT by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust's stock worth $51,626,000 after acquiring an additional 281,120 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CareTrust REIT during the third quarter valued at approximately $7,475,000. Institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on CTRE. BMO Capital Markets increased their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Royal Bank of Canada raised their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Wells Fargo & Company upgraded CareTrust REIT from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Finally, KeyCorp raised their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Two equities research 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 stock currently has an average rating of "Moderate Buy" and an average price target of $31.00.

Insider Activity at CareTrust REIT

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

CareTrust REIT Stock Down 1.4 %

NASDAQ CTRE traded down $0.44 during trading on Friday, hitting $30.30. The stock had a trading volume of 2,045,755 shares, compared to its average volume of 2,956,905. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. 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 price is $30.77 and its two-hundred day moving average price is $28.12. The company has a market capitalization of $5.19 billion, a PE ratio of 42.08 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its 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). 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 previous year, the company posted $0.35 EPS. As a group, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 3.83%. CareTrust REIT's payout ratio is presently 161.11%.

CareTrust REIT 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.