Oddo BHF Asset Management Sas Invests $985,000 in CareTrust REIT, Inc. (NASDAQ:CTRE)

Oddo BHF Asset Management Sas purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,929 shares of the real estate investment trust’s stock, valued at approximately $985,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC grew its stake 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 purchasing an additional 3,538,798 shares during the period. Heitman Real Estate Securities LLC bought a new position in CareTrust REIT during the third quarter valued at about $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CareTrust REIT by 344.0% during 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 buying an additional 737,236 shares during the last quarter. Wellington Management Group LLP raised its position in CareTrust REIT by 5.5% in the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after acquiring an additional 670,348 shares during the period. Finally, State Street Corp boosted its stake in CareTrust REIT by 6.7% in 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. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE opened at $28.81 on Friday. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The stock’s 50-day simple moving average is $30.34 and its 200 day simple moving average is $28.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company 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 4.03%. CareTrust REIT’s dividend payout ratio (DPR) is currently 161.11%.

Analyst Upgrades and Downgrades

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

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.