Perpetual Ltd Has $486,000 Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Perpetual Ltd decreased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 29.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,747 shares of the real estate investment trust’s stock after selling 6,690 shares during the quarter. Perpetual Ltd’s holdings in CareTrust REIT were worth $486,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth about $27,000. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth about $34,000. Quest Partners LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth about $40,000. GAMMA Investing LLC increased its position in shares of CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Quarry LP increased its position in shares of CareTrust REIT by 536.6% during the 2nd quarter. Quarry LP now owns 3,100 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 2,613 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTRE shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. KeyCorp increased their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada increased their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised shares of 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. Finally, BMO Capital Markets raised their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Transactions at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.75% of the stock is currently owned by insiders.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE opened at $30.24 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 51.26 and a beta of 1.10. The firm’s 50 day simple moving average is $29.63 and its 200 day simple moving average is $26.72. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $31.51.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The company had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same quarter last year, the business posted $0.35 earnings per share. As a group, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.84%. CareTrust REIT’s dividend payout ratio (DPR) is presently 196.61%.

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.