Truvestments Capital LLC Purchases 11,732 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Truvestments Capital LLC grew its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,007 shares of the real estate investment trust’s stock after buying an additional 11,732 shares during the quarter. CareTrust REIT accounts for approximately 0.9% of Truvestments Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Truvestments Capital LLC owned 0.07% of CareTrust REIT worth $3,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its holdings in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 467 shares during the period. United Services Automobile Association raised its stake in shares of CareTrust REIT by 5.0% during the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 540 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of CareTrust REIT by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after buying an additional 544 shares during the last quarter. Pitcairn Co. grew its position in CareTrust REIT by 5.3% during the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after buying an additional 671 shares during the period. Finally, US Bancorp DE increased its holdings in CareTrust REIT by 6.2% during the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Down 0.0 %

CTRE stock opened at $30.29 on Monday. The stock has a 50-day simple moving average of $30.77 and a two-hundred day simple moving average of $28.17. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The firm has a market capitalization of $5.19 billion, a PE ratio of 20.90 and a beta of 1.09. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS 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 analysts’ expectations of $74.12 million. During the same period in the prior year, the firm posted $0.35 EPS. On average, equities analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.83%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at CareTrust REIT

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 completion of the sale, the chief financial officer now directly owns 257,439 shares in the company, valued at $7,671,682.20. The trade was a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by 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.