Creative Planning Has $1.93 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Creative Planning raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 76.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,378 shares of the real estate investment trust's stock after purchasing an additional 27,048 shares during the quarter. Creative Planning's holdings in CareTrust REIT were worth $1,925,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of CareTrust REIT by 25.4% in the 2nd quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust's stock valued at $2,618,000 after purchasing an additional 21,145 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of CareTrust REIT by 32.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust's stock valued at $3,052,000 after buying an additional 30,619 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CareTrust REIT by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust's stock worth $493,925,000 after acquiring an additional 2,376,832 shares during the period. Centersquare Investment Management LLC boosted its stake in shares of CareTrust REIT by 1.6% during the 1st quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust's stock worth $70,924,000 after acquiring an additional 45,733 shares during the period. Finally, Boston Partners bought a new position in shares of CareTrust REIT during the 1st quarter worth approximately $968,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded up $0.60 during midday trading on Tuesday, reaching $31.91. The company's stock had a trading volume of 1,308,735 shares, compared to its average volume of 1,405,271. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $31.97. The business's 50 day moving average price is $30.30 and its two-hundred day moving average price is $27.27. The company has a market cap of $4.53 billion, a P/E ratio of 60.71 and a beta of 1.10.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released 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). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The business had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.64%. CareTrust REIT's dividend payout ratio is currently 223.08%.

Insider Buying and Selling at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.75% of the company's stock.

Analyst Ratings Changes

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