CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Dean Investment Associates LLC

Dean Investment Associates LLC decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 65.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,230 shares of the real estate investment trust's stock after selling 44,047 shares during the quarter. Dean Investment Associates LLC's holdings in CareTrust REIT were worth $717,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTRE. Newbridge Financial Services Group Inc. purchased a new stake in CareTrust REIT during the 2nd quarter worth about $27,000. Rothschild Investment LLC purchased a new stake in CareTrust REIT during the second quarter worth approximately $34,000. Blue Trust Inc. boosted its holdings in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 772 shares in the last quarter. Quest Partners LLC purchased a new position in CareTrust REIT in the second quarter valued at approximately $40,000. Finally, GAMMA Investing LLC increased its stake in CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

CTRE has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $34.00 to $32.00 in a research note on Monday. KeyCorp lifted their target price 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 upped their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.67.

CareTrust REIT Stock Performance

NASDAQ CTRE traded down $0.53 during trading on Monday, reaching $28.81. The company's stock had a trading volume of 2,446,138 shares, compared to its average volume of 1,567,076. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 40.01 and a beta of 1.08. The business's fifty day moving average price is $30.49 and its 200-day moving average price is $28.52. 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 posted its quarterly earnings data 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 net margin of 36.88% and a return on equity of 5.32%. The company had revenue of $77.38 million for the quarter, compared to analysts' expectations of $74.12 million. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date 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%.

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.