31,929 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas purchased a new position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,929 shares of the real estate investment trust's stock, valued at approximately $985,000.

A number of other institutional investors have also recently made changes to their positions in CTRE. Wellington Management Group LLP lifted its holdings in shares of CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust's stock worth $394,948,000 after acquiring an additional 670,348 shares during the last quarter. State Street Corp raised its position in CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust's stock worth $259,255,000 after purchasing an additional 520,783 shares during the period. FMR LLC lifted its stake in CareTrust REIT by 209.9% in the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock worth $161,240,000 after purchasing an additional 3,538,798 shares during the last quarter. Geode Capital Management LLC boosted its position in CareTrust REIT by 7.4% during the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust's stock valued at $115,209,000 after buying an additional 258,271 shares during the period. Finally, Zimmer Partners LP boosted its position in CareTrust REIT by 6.0% during the third quarter. Zimmer Partners LP now owns 3,449,615 shares of the real estate investment trust's stock valued at $106,455,000 after buying an additional 194,028 shares during the period. Institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

CTRE has been the subject of a number of recent research reports. Royal Bank of Canada boosted 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 objective on CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.67.

CareTrust REIT Trading Up 0.5 %

Shares of CTRE traded up $0.15 during mid-day trading on Friday, hitting $28.81. 1,468,787 shares of the company's stock traded hands, compared to its average volume of 1,571,283. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.94 billion, a P/E ratio of 40.01, a PEG ratio of 1.59 and a beta of 1.07. The business's 50-day moving average price is $30.34 and its 200-day moving average price is $28.61. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 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 company had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. During the same quarter last year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT's payout ratio is presently 161.11%.

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.