Handelsbanken Fonder AB Increases Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Handelsbanken Fonder AB increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 68.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,846 shares of the real estate investment trust's stock after purchasing an additional 17,800 shares during the quarter. Handelsbanken Fonder AB's holdings in CareTrust REIT were worth $1,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in CareTrust REIT in the second quarter valued at about $27,000. Rothschild Investment LLC purchased a new position in CareTrust REIT in the second quarter valued at about $34,000. Quest Partners LLC purchased a new position in CareTrust REIT in the second quarter valued at about $40,000. GAMMA Investing LLC boosted 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 acquiring an additional 1,143 shares during the last quarter. Finally, Quarry LP boosted its stake in CareTrust REIT by 536.6% in the second quarter. Quarry LP now owns 3,100 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 2,613 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now owns 257,439 shares of the company's stock, valued at $7,671,682.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.75% of the company's stock.

Analyst Ratings Changes

CTRE has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. Royal Bank of Canada boosted their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Monday, July 1st. KeyCorp boosted their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Price Performance

CareTrust REIT stock traded up $0.35 during midday trading on Friday, reaching $30.24. 914,195 shares of the stock were exchanged, compared to its average volume of 1,425,914. The company's fifty day moving average is $29.63 and its 200-day moving average is $26.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The firm has a market cap of $4.30 billion, a PE ratio of 58.15 and a beta of 1.10. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $31.51.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). The company had revenue of $68.89 million during the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same period in the previous year, the company earned $0.35 EPS. On average, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, September 30th. CareTrust REIT's payout ratio is 223.08%.

CareTrust REIT Company 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.