Vestcor Inc Acquires 126,833 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Vestcor Inc boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 1,846.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,703 shares of the real estate investment trust's stock after buying an additional 126,833 shares during the quarter. Vestcor Inc owned approximately 0.08% of CareTrust REIT worth $4,126,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CTRE. Envestnet Portfolio Solutions Inc. bought a new stake in shares of CareTrust REIT in the second quarter worth $212,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of CareTrust REIT by 6.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 157,148 shares of the real estate investment trust's stock worth $3,944,000 after buying an additional 10,212 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of CareTrust REIT by 11.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,425 shares of the real estate investment trust's stock worth $1,228,000 after buying an additional 4,833 shares during the last quarter. Milestone Asset Management LLC increased its position in shares of CareTrust REIT by 155.2% in the second quarter. Milestone Asset Management LLC now owns 27,813 shares of the real estate investment trust's stock valued at $698,000 after acquiring an additional 16,915 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of CareTrust REIT by 10.7% in the second quarter. Louisiana State Employees Retirement System now owns 71,500 shares of the real estate investment trust's stock valued at $1,795,000 after acquiring an additional 6,900 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Performance

CareTrust REIT stock traded down $0.29 during mid-day trading on Wednesday, hitting $28.54. 1,600,302 shares of the company's stock traded hands, compared to its average volume of 1,572,499. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The firm has a 50 day simple moving average of $30.41 and a two-hundred day simple moving average of $28.54. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 39.64 and a beta of 1.08.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its earnings results 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 company had revenue of $77.38 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.35 EPS. On average, research analysts expect 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 given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Monday, September 30th. CareTrust REIT's payout ratio is 161.11%.

Analyst Ratings Changes

Several brokerages recently commented on CTRE. BMO Capital Markets cut CareTrust REIT from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Monday. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Finally, KeyCorp lifted their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.67.

CareTrust REIT 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.