DekaBank Deutsche Girozentrale Sells 19,673 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

DekaBank Deutsche Girozentrale lowered its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 18.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 89,898 shares of the real estate investment trust's stock after selling 19,673 shares during the period. DekaBank Deutsche Girozentrale owned 0.06% of CareTrust REIT worth $2,708,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 valued at $493,925,000 after acquiring an additional 2,376,832 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of CareTrust REIT by 1.6% during the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust's stock valued at $70,924,000 after purchasing an additional 45,733 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 worth $51,626,000 after purchasing an additional 281,120 shares during the period. Zimmer Partners LP bought a new position in CareTrust REIT in the 1st quarter valued at about $41,763,000. Finally, Russell Investments Group Ltd. increased its stake in CareTrust REIT by 49.7% during the 1st quarter. Russell Investments Group Ltd. now owns 841,605 shares of the real estate investment trust's stock valued at $20,509,000 after buying an additional 279,412 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Down 0.9 %

Shares of CTRE stock traded down $0.30 during trading on Friday, hitting $32.37. 7,115,626 shares of the company were exchanged, compared to its average volume of 1,478,160. The business's 50-day simple moving average is $30.58 and its 200 day simple moving average is $27.46. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 44.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.37 and a current ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million for the quarter, compared to analysts' expectations of $74.12 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued 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 3.58%. CareTrust REIT's dividend payout ratio is currently 161.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets increased 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. 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 research note on Thursday, August 22nd. KeyCorp boosted their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock 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 upped their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.75% of the stock is owned by company insiders.

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.