2,600 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Purchased by FSA Wealth Management LLC

FSA Wealth Management LLC bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,600 shares of the real estate investment trust’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRE. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the second quarter valued at $27,000. Rothschild Investment LLC purchased a new stake in shares of CareTrust REIT during the second quarter worth about $34,000. Blue Trust Inc. raised its position in shares of 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 valued at $37,000 after buying an additional 772 shares during the last quarter. Quest Partners LLC purchased a new position in shares of CareTrust REIT during the second quarter valued at approximately $40,000. Finally, GAMMA Investing LLC boosted its position in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $29.79 on Monday. The stock has a market capitalization of $5.11 billion, a P/E ratio of 41.38 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. The business’s fifty day moving average price is $30.68 and its 200 day moving average price is $28.35. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data 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). The firm had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid 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 was Monday, September 30th. CareTrust REIT’s dividend payout ratio is presently 161.11%.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

CTRE has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp increased their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.