Quest Partners LLC Increases Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Quest Partners LLC grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 3,655.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,313 shares of the real estate investment trust's stock after acquiring an additional 58,707 shares during the period. Quest Partners LLC's holdings in CareTrust REIT were worth $1,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new position in CareTrust REIT in the second quarter worth approximately $27,000. Rothschild Investment LLC bought a new position in CareTrust REIT in the second quarter worth approximately $34,000. Blue Trust Inc. raised its stake in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after buying an additional 772 shares in the last quarter. GAMMA Investing LLC raised its stake in CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,143 shares in the last quarter. Finally, Signaturefd LLC raised its stake in CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust's stock worth $67,000 after buying an additional 775 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT 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 11.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

CareTrust REIT Price Performance

CTRE stock traded up $0.81 during mid-day trading on Tuesday, reaching $31.08. The company's stock had a trading volume of 1,521,845 shares, compared to its average volume of 1,548,632. The stock has a market cap of $5.33 billion, a PE ratio of 20.92 and a beta of 1.09. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The company's 50 day moving average is $30.75 and its two-hundred day moving average is $27.97.

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

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.73%. CareTrust REIT's dividend payout ratio (DPR) is 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.