De Lisle Partners LLP Buys Shares of 31,073 CareTrust REIT, Inc. (NASDAQ:CTRE)

De Lisle Partners LLP purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,073 shares of the real estate investment trust’s stock, valued at approximately $959,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MetLife Investment Management LLC boosted its stake in shares of CareTrust REIT by 3.8% in the third quarter. MetLife Investment Management LLC now owns 85,669 shares of the real estate investment trust’s stock valued at $2,644,000 after purchasing an additional 3,156 shares during the period. D.A. Davidson & CO. lifted its holdings in CareTrust REIT by 5.4% during the 3rd quarter. D.A. Davidson & CO. now owns 38,120 shares of the real estate investment trust’s stock worth $1,176,000 after buying an additional 1,948 shares in the last quarter. FMR LLC boosted its position in CareTrust REIT by 209.9% in 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 buying an additional 3,538,798 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of CareTrust REIT by 9.2% in the third quarter. The Manufacturers Life Insurance Company now owns 82,934 shares of the real estate investment trust’s stock worth $2,559,000 after acquiring an additional 6,979 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of CareTrust REIT by 18.3% during the third quarter. Bank of Montreal Can now owns 98,960 shares of the real estate investment trust’s stock worth $3,044,000 after acquiring an additional 15,328 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, October 7th. 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. KeyCorp upped their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company upgraded shares of 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $29.91 on Friday. The company has a fifty day moving average of $30.71 and a two-hundred day moving average of $28.25. The company has a market capitalization of $5.13 billion, a PE ratio of 41.54 and a beta of 1.09. 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.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share 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 firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. During the same quarter last year, the business earned $0.35 earnings per share. As a group, analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently declared 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. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.88%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Insider Activity

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,671,682.20. This represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

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.