Summit Global Investments Takes $1.30 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Summit Global Investments acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,006 shares of the real estate investment trust's stock, valued at approximately $1,296,000.

Other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the 2nd quarter valued at about $27,000. Blue Trust Inc. lifted its holdings in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 772 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of CareTrust REIT in the 2nd quarter valued at approximately $34,000. Quest Partners LLC bought a new position in shares of CareTrust REIT in the 2nd quarter valued at approximately $40,000. Finally, GAMMA Investing LLC raised its stake in shares of CareTrust REIT by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 1,143 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was 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 of the company's stock, valued at $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.75% of the stock is owned by insiders.

CareTrust REIT Price Performance

CareTrust REIT stock traded up $0.27 on Friday, reaching $30.94. The company's stock had a trading volume of 2,757,181 shares, compared to its average volume of 2,552,451. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 20.34 and a beta of 1.09. The business's fifty day moving average price is $30.68 and its 200 day moving average price is $27.70.

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

CareTrust REIT Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.75%. CareTrust REIT's dividend payout ratio is currently 161.11%.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank of Canada lifted 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. Wells Fargo & Company raised CareTrust REIT from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. KeyCorp lifted their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, BMO Capital Markets boosted their price objective on CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Company Profile

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.