Erste Asset Management GmbH Acquires Shares of 39,200 CareTrust REIT, Inc. (NASDAQ:CTRE)

Erste Asset Management GmbH acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,200 shares of the real estate investment trust’s stock, valued at approximately $1,206,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CareTrust REIT by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust’s stock valued at $71,689,000 after buying an additional 132,874 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of CareTrust REIT by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,056,825 shares of the real estate investment trust’s stock valued at $51,626,000 after acquiring an additional 281,120 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in CareTrust REIT by 344.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after acquiring an additional 737,236 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after acquiring an additional 41,623 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 0.0 %

NASDAQ CTRE opened at $29.16 on Wednesday. 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. The stock’s fifty day moving average price is $30.61 and its 200-day moving average price is $28.41. The stock has a market cap of $5.00 billion, a P/E ratio of 40.50 and a beta of 1.07.

CareTrust REIT (NASDAQ:CTRE) last announced 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). The firm had revenue of $77.38 million for the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period last year, the company posted $0.35 earnings per share. As a group, equities analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently disclosed 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 was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.98%. CareTrust REIT’s payout ratio is 161.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. 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. BMO Capital Markets raised their price objective 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. KeyCorp upped their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.