CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC lessened its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 55.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,824 shares of the real estate investment trust's stock after selling 30,891 shares during the quarter. Legato Capital Management LLC's holdings in CareTrust REIT were worth $623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in CareTrust REIT by 3.1% in the 4th quarter. Mackenzie Financial Corp now owns 16,317 shares of the real estate investment trust's stock valued at $365,000 after purchasing an additional 484 shares during the period. Foundations Investment Advisors LLC grew its holdings in CareTrust REIT by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust's stock worth $254,000 after acquiring an additional 624 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CareTrust REIT by 4.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust's stock valued at $559,000 after purchasing an additional 895 shares during the period. New York State Common Retirement Fund raised its position in shares of CareTrust REIT by 2.2% during the fourth quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust's stock worth $929,000 after acquiring an additional 910 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,143 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE traded up $0.29 during midday trading on Wednesday, reaching $29.78. The company's stock had a trading volume of 1,247,825 shares, compared to its average volume of 1,374,697. The stock has a market capitalization of $4.23 billion, a P/E ratio of 57.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80. The firm has a 50 day moving average price of $26.83 and a 200-day moving average price of $25.16. CareTrust REIT, Inc. has a 12-month low of $19.67 and a 12-month high of $29.86.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a return on equity of 5.31% and a net margin of 30.09%. The business had revenue of $68.89 million during the quarter, compared to analysts' expectations of $66.36 million. During the same period in the prior year, the firm posted $0.35 EPS. As a group, equities analysts predict that CareTrust REIT, Inc. will post 1.47 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 3.90%. CareTrust REIT's dividend payout ratio (DPR) is presently 223.08%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTRE. Deutsche Bank Aktiengesellschaft lifted their target price on CareTrust REIT from $23.00 to $27.00 and gave the stock a "hold" rating in a report on Monday, July 1st. KeyCorp lifted their price target on CareTrust REIT from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Thursday, May 9th. Wells Fargo & Company increased their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 30th. Royal Bank of Canada raised their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Finally, Wedbush assumed coverage on CareTrust REIT in a report on Wednesday, May 29th. They set a "neutral" rating and a $26.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.67.

CareTrust REIT Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.