Y Intercept Hong Kong Ltd Cuts Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Y Intercept Hong Kong Ltd lessened its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 57.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,927 shares of the real estate investment trust's stock after selling 26,730 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in CareTrust REIT were worth $615,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Hsbc Holdings PLC boosted its holdings in CareTrust REIT by 25.4% in the 2nd quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust's stock worth $2,618,000 after buying an additional 21,145 shares during the period. Raymond James & Associates lifted its position in shares of CareTrust REIT by 10.6% during the third quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust's stock worth $21,138,000 after acquiring an additional 65,756 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of CareTrust REIT by 22.4% in the third quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust's stock worth $13,264,000 after acquiring an additional 78,560 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CareTrust REIT in the third quarter valued at $7,475,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of CareTrust REIT during the 2nd quarter valued at $319,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company upgraded 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 research note on Tuesday, October 1st. KeyCorp raised 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. BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada increased their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.67.

CareTrust REIT Price Performance

Shares of CTRE stock traded up $0.15 during trading on Friday, hitting $28.81. The company had a trading volume of 1,468,787 shares, compared to its average volume of 1,571,283. The stock's 50-day moving average is $30.34 and its two-hundred day moving average is $28.61. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings results 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). 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 period in the previous year, the company earned $0.35 EPS. As a group, analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued 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 currently 161.11%.

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.