J. W. Coons Advisors LLC Takes $213,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

J. W. Coons Advisors LLC acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) in the third quarter, Holdings Channel reports. The firm acquired 6,904 shares of the real estate investment trust’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT in the second quarter worth $27,000. Blue Trust Inc. boosted its position in CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares during the period. Rothschild Investment LLC purchased a new position in CareTrust REIT during the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at about $40,000. Finally, GAMMA Investing LLC lifted its position in shares of CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 257,439 shares of the company’s stock, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTRE. Wells Fargo & Company upgraded shares of 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. BMO Capital Markets increased their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. KeyCorp boosted their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their target price on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE opened at $30.33 on Monday. The business’s 50-day simple moving average is $30.75 and its 200-day simple moving average is $27.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 42.13 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate 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 net margin of 36.88% and a return on equity of 5.32%. During the same quarter last year, the business earned $0.35 EPS. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 161.11%.

CareTrust REIT Company 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.