Verition Fund Management LLC Has $12.74 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Verition Fund Management LLC decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 412,902 shares of the real estate investment trust's stock after selling 89,445 shares during the period. Verition Fund Management LLC owned 0.24% of CareTrust REIT worth $12,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of CareTrust REIT during the 2nd quarter valued at $27,000. Rothschild Investment LLC acquired a new position in CareTrust REIT in the second quarter valued at about $34,000. Blue Trust Inc. boosted its holdings in CareTrust REIT by 178.3% during 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 during the last quarter. Quest Partners LLC acquired a new position in shares of CareTrust REIT during the 2nd quarter worth about $40,000. Finally, GAMMA Investing LLC increased 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 during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related 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 sale, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.75% of the stock is currently owned by corporate insiders.

CareTrust REIT Stock Down 0.4 %

CTRE stock traded down $0.12 during trading hours on Friday, reaching $29.79. 949,964 shares of the stock were exchanged, compared to its average volume of 2,662,620. The firm's 50-day moving average is $30.68 and its 200-day moving average is $28.32. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 20.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

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

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT's dividend 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.