Quantbot Technologies LP Has $3.94 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Quantbot Technologies LP lessened its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 24.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,692 shares of the real estate investment trust's stock after selling 41,659 shares during the period. Quantbot Technologies LP owned about 0.07% of CareTrust REIT worth $3,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTRE. American International Group Inc. increased its holdings in shares of CareTrust REIT by 17.6% in the 1st quarter. American International Group Inc. now owns 65,180 shares of the real estate investment trust's stock valued at $1,588,000 after acquiring an additional 9,765 shares during the last quarter. BOKF NA raised its holdings in shares of CareTrust REIT by 35.7% during the first quarter. BOKF NA now owns 10,437 shares of the real estate investment trust's stock worth $253,000 after purchasing an additional 2,744 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of CareTrust REIT by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,534 shares of the real estate investment trust's stock worth $1,671,000 after buying an additional 9,112 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of CareTrust REIT by 9.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 186,485 shares of the real estate investment trust's stock valued at $4,545,000 after buying an additional 15,436 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of CareTrust REIT by 13.4% in the 1st quarter. California State Teachers Retirement System now owns 119,214 shares of the real estate investment trust's stock valued at $2,905,000 after buying an additional 14,100 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Down 0.4 %

Shares of CareTrust REIT stock traded down $0.11 during midday trading on Wednesday, hitting $29.91. The company's stock had a trading volume of 1,155,369 shares, compared to its average volume of 1,563,070. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year 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. The firm has a market capitalization of $5.13 billion, a P/E ratio of 41.69 and a beta of 1.09. The stock has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $28.24.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted 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 company had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same period last year, the company posted $0.35 earnings per share. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is presently 161.11%.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at $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 can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CTRE has been the topic of a number of recent research reports. BMO Capital Markets raised 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. Wells Fargo & Company raised CareTrust REIT from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. KeyCorp boosted 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. Finally, Royal Bank of Canada boosted their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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.