Tributary Capital Management LLC Has $16.59 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Tributary Capital Management LLC lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 21.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 537,726 shares of the real estate investment trust's stock after purchasing an additional 94,755 shares during the period. Tributary Capital Management LLC owned 0.38% of CareTrust REIT worth $16,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CTRE. Vanguard Group Inc. increased its holdings in shares of CareTrust REIT by 13.3% in the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust's stock valued at $493,925,000 after purchasing an additional 2,376,832 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of CareTrust REIT in the first quarter valued at approximately $41,763,000. Dimensional Fund Advisors LP increased its holdings in shares of CareTrust REIT by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust's stock valued at $51,626,000 after purchasing an additional 281,120 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of CareTrust REIT by 49.7% in the first quarter. Russell Investments Group Ltd. now owns 841,605 shares of the real estate investment trust's stock valued at $20,509,000 after purchasing an additional 279,412 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of CareTrust REIT by 618.0% in the first quarter. Daiwa Securities Group Inc. now owns 256,866 shares of the real estate investment trust's stock valued at $6,260,000 after purchasing an additional 221,092 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling

In related news, CFO William M. Wagner sold 35,000 shares of the firm's stock in a transaction on 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 sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.75% of the stock is currently owned by company insiders.

CareTrust REIT Trading Up 1.2 %

Shares of NASDAQ CTRE traded up $0.38 during midday trading on Monday, reaching $31.31. 1,281,974 shares of the stock were exchanged, compared to its average volume of 1,405,317. The business has a 50-day simple moving average of $30.24 and a two-hundred day simple moving average of $27.22. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 60.21 and a beta of 1.10. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $31.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). The firm had revenue of $68.89 million for 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 prior year, the business earned $0.35 earnings per share. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.70%. CareTrust REIT's dividend payout ratio is 223.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTRE shares. KeyCorp raised their price target 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. Royal Bank of Canada raised their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. BMO Capital Markets raised their price objective 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. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a "hold" rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.