Quantbot Technologies LP Boosts Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Quantbot Technologies LP boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 398.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 169,351 shares of the real estate investment trust’s stock after buying an additional 135,357 shares during the period. Quantbot Technologies LP’s holdings in CareTrust REIT were worth $4,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. United Services Automobile Association lifted its holdings in CareTrust REIT by 5.0% in the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 540 shares during the period. Foundations Investment Advisors LLC lifted its holdings in CareTrust REIT by 5.4% in the fourth quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 624 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in CareTrust REIT by 4.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after acquiring an additional 895 shares during the period. GAMMA Investing LLC lifted its holdings in 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 valued at $44,000 after acquiring an additional 1,143 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in CareTrust REIT in the second quarter valued at $34,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 0.4 %

CareTrust REIT stock opened at $31.21 on Tuesday. The stock has a market cap of $4.43 billion, a PE ratio of 60.01 and a beta of 1.10. The stock has a 50-day moving average price of $28.12 and a 200 day moving average price of $25.84. CareTrust REIT, Inc. has a 52 week low of $19.79 and a 52 week high of $31.35. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Wedbush initiated coverage on CareTrust REIT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price target on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Finally, Wells Fargo & Company lifted their price target on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT has a consensus rating of “Hold” and a consensus price target of $26.67.

Insider Buying and Selling

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.75% of the stock is currently owned by company insiders.

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.