CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 398.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,351 shares of the real estate investment trust’s stock after purchasing an additional 135,357 shares during the period. Quantbot Technologies LP owned about 0.12% of CareTrust REIT worth $4,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after acquiring an additional 2,376,832 shares during the period. Centersquare Investment Management LLC raised its position in CareTrust REIT by 1.6% during the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock worth $70,924,000 after acquiring an additional 45,733 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of CareTrust REIT by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock worth $51,626,000 after buying an additional 281,120 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of CareTrust REIT during the first quarter worth $41,763,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CareTrust REIT by 13.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,498 shares of the real estate investment trust’s stock worth $38,326,000 after buying an additional 209,500 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $31.21 on Tuesday. The firm has a market capitalization of $4.43 billion, a P/E ratio of 60.01 and a beta of 1.10. CareTrust REIT, Inc. has a 52 week low of $19.79 and a 52 week high of $31.35. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $28.12 and its two-hundred day moving average is $25.84.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The company had revenue of $68.89 million during the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter in the prior year, the company earned $0.35 earnings per share. Research analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush assumed coverage on shares of CareTrust REIT in a report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 target price for the company. Wells Fargo & Company upped their target price on shares of CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. Finally, Royal Bank of Canada increased 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.67.

Insider Buying and Selling at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.75% of the stock is currently owned by insiders.

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.