CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,576,053 shares of the real estate investment trust’s stock after selling 3,214 shares during the quarter. William Blair Investment Management LLC owned approximately 1.11% of CareTrust REIT worth $39,559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rothschild Investment LLC acquired a new position in CareTrust REIT during the second quarter worth about $34,000. Quest Partners LLC acquired a new position in shares of CareTrust REIT during the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its stake in CareTrust REIT by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,143 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in CareTrust REIT during the 2nd quarter valued at $126,000. Finally, Covestor Ltd grew its holdings in CareTrust REIT by 114,366.7% during the 1st quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 6,862 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $31.08 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 59.77 and a beta of 1.10. CareTrust REIT, Inc. has a 1 year low of $19.79 and a 1 year high of $31.14. The firm has a 50 day moving average price of $28.02 and a 200 day moving average price of $25.74.

CareTrust REIT (NASDAQ:CTRE) last released 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). CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. The firm had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Friday, June 28th. CareTrust REIT’s payout ratio is currently 223.08%.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT 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 of the company’s stock, valued at $7,671,682.20. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CTRE shares. Wells Fargo & Company upped their price objective on 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 raised their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Wedbush started coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Royal Bank of Canada raised their target price 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.67.

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.