Exchange Traded Concepts LLC Sells 64,451 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Exchange Traded Concepts LLC lessened its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 98.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 843 shares of the real estate investment trust's stock after selling 64,451 shares during the quarter. Exchange Traded Concepts LLC's holdings in CareTrust REIT were worth $26,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its position in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 467 shares in the last quarter. United Services Automobile Association raised its position in CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust's stock worth $282,000 after acquiring an additional 540 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in CareTrust REIT by 4.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust's stock worth $559,000 after acquiring an additional 895 shares in the last quarter. Creative Planning raised its position in CareTrust REIT by 3.1% during the second quarter. Creative Planning now owns 35,330 shares of the real estate investment trust's stock worth $887,000 after acquiring an additional 1,071 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of CareTrust REIT in the second quarter valued at $27,000. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO William M. Wagner sold 35,000 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.75% of the stock is currently owned by company insiders.

CareTrust REIT Stock Performance

Shares of CTRE stock traded up $0.09 on Thursday, hitting $30.94. The company's stock had a trading volume of 845,728 shares, compared to its average volume of 1,407,496. 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 stock's 50 day moving average is $30.18 and its 200-day moving average is $27.12. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $31.51. The company has a market capitalization of $4.40 billion, a PE ratio of 59.50 and a beta of 1.10.

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 4.84% and a net margin of 30.09%. The firm had revenue of $68.89 million for the quarter, compared to the consensus estimate of $66.36 million. During the same period in the prior year, the company earned $0.35 EPS. Equities research analysts expect that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.75%. CareTrust REIT's dividend payout ratio is 223.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on CTRE. BMO Capital Markets upped their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Monday, October 7th. KeyCorp upped their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a report 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 company from $28.00 to $34.00 in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a "hold" rating in a report on Monday, July 1st. Finally, Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.