31,929 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the third quarter, Holdings Channel reports. The firm purchased 31,929 shares of the real estate investment trust’s stock, valued at approximately $985,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of CareTrust REIT by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after purchasing an additional 670,348 shares during the last quarter. State Street Corp grew its position in CareTrust REIT by 6.7% during the third quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after acquiring an additional 520,783 shares during the last quarter. FMR LLC raised its stake in shares of CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after acquiring an additional 3,538,798 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CareTrust REIT by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Finally, Zimmer Partners LP grew its holdings in shares of CareTrust REIT by 6.0% during the 3rd quarter. Zimmer Partners LP now owns 3,449,615 shares of the real estate investment trust’s stock valued at $106,455,000 after purchasing an additional 194,028 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CTRE shares. KeyCorp upped 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. Royal Bank of Canada increased their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.67.

CareTrust REIT Stock Up 0.5 %

Shares of NASDAQ:CTRE opened at $28.81 on Friday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The stock’s 50-day moving average is $30.34 and its 200 day moving average is $28.59. The company has a market cap of $4.94 billion, a PE ratio of 40.01, a P/E/G ratio of 1.59 and a beta of 1.07.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The business had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same quarter in the prior year, the company earned $0.35 EPS. Sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current 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 paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s payout ratio is 161.11%.

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.