Erste Asset Management GmbH purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,200 shares of the real estate investment trust's stock, valued at approximately $1,206,000.
Several other institutional investors also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in CareTrust REIT during the 2nd quarter valued at $27,000. Blue Trust Inc. raised its stake in CareTrust REIT by 178.3% during the 3rd 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 during the period. Rothschild Investment LLC acquired a new stake in CareTrust REIT during the 2nd quarter valued at $34,000. Quest Partners LLC acquired a new position in shares of CareTrust REIT in the second quarter worth $40,000. Finally, GAMMA Investing LLC increased its stake in shares of 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 worth $44,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors own 87.77% of the company's stock.
CareTrust REIT Trading Up 0.9 %
Shares of NASDAQ CTRE traded up $0.26 during midday trading on Wednesday, reaching $29.42. 2,063,457 shares of the stock were exchanged, compared to its average volume of 1,565,213. 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 current ratio of 7.60 and a quick ratio of 7.60. The business has a 50-day simple moving average of $30.61 and a two-hundred day simple moving average of $28.41. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 40.50 and a beta of 1.07.
CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.
CareTrust REIT Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT's dividend payout ratio is presently 161.11%.
Analyst Ratings Changes
CTRE has been the topic of a number of research reports. Royal Bank of Canada upped their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. BMO Capital Markets upped their price target on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. 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 report on Tuesday, October 1st. Finally, KeyCorp upped their price objective 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 given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.00.
Check Out Our Latest Research Report on CTRE
CareTrust REIT Company Profile
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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.
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