6,904 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Acquired by J. W. Coons Advisors LLC

J. W. Coons Advisors LLC acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,904 shares of the real estate investment trust’s stock, valued at approximately $213,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CareTrust REIT by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after buying an additional 2,376,832 shares during the period. Zimmer Partners LP acquired a new stake in CareTrust REIT during the 1st quarter valued at approximately $41,763,000. Tributary Capital Management LLC bought a new stake in shares of CareTrust REIT in the second quarter worth $11,119,000. Dimensional Fund Advisors LP grew its stake in CareTrust REIT by 15.8% in 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 purchasing an additional 281,120 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in CareTrust REIT during the second quarter valued at approximately $4,764,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CTRE opened at $30.33 on Monday. The business has a 50 day moving average price of $30.75 and a two-hundred day moving average price of $27.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 42.13 and a beta of 1.09. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results 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). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same period in the prior year, the business earned $0.35 EPS. Research analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. CareTrust REIT’s payout ratio is currently 161.11%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. BMO Capital Markets boosted their price objective on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. KeyCorp raised their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada boosted their price target 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.75% of the company’s stock.

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.