Y Intercept Hong Kong Ltd Trims Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Y Intercept Hong Kong Ltd decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 57.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,927 shares of the real estate investment trust’s stock after selling 26,730 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CareTrust REIT were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in CareTrust REIT in the 2nd quarter worth $27,000. Rothschild Investment LLC purchased a new position in shares of CareTrust REIT during the 2nd quarter valued at about $34,000. Blue Trust Inc. raised its stake in shares of 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 valued at $37,000 after buying an additional 772 shares during the last quarter. Quest Partners LLC purchased a new position in shares of CareTrust REIT during the 2nd quarter valued at about $40,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,990 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. KeyCorp lifted their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Royal Bank of Canada lifted their price objective on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.67.

CareTrust REIT Trading Up 0.5 %

CTRE stock opened at $28.81 on Friday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 1.59 and a beta of 1.07. The business’s 50-day moving average is $30.34 and its 200 day moving average is $28.59. CareTrust REIT, Inc. has a 12-month low of $20.10 and a 12-month high of $33.15. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last issued 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). The company had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 161.11%.

About CareTrust REIT

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.