CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,305 shares of the real estate investment trust’s stock after purchasing an additional 4,100 shares during the quarter. Nicola Wealth Management LTD.’s holdings in CareTrust REIT were worth $935,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in CareTrust REIT by 25.4% in the second quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust’s stock valued at $2,618,000 after acquiring an additional 21,145 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in CareTrust REIT by 32.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust’s stock valued at $3,052,000 after purchasing an additional 30,619 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 2,376,832 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of CareTrust REIT by 10.6% in the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock valued at $21,138,000 after buying an additional 65,756 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its stake in shares of CareTrust REIT by 1.6% in the first quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock valued at $70,924,000 after buying an additional 45,733 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.75% of the company’s stock.

CareTrust REIT Stock Performance

NASDAQ CTRE traded down $0.14 during trading hours on Thursday, reaching $30.23. 153,104 shares of the company were exchanged, compared to its average volume of 1,537,719. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The business’s 50 day simple moving average is $30.74 and its 200-day simple moving average is $27.87. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $5.18 billion, a P/E ratio of 42.19 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last announced 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 company had revenue of $77.38 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.35 EPS. On average, equities research analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend yield of 3.84%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

CareTrust REIT 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.