Erste Asset Management GmbH Invests $1.21 Million in CareTrust REIT, Inc. (NASDAQ:CTRE)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRE. CWM LLC raised its position in shares of CareTrust REIT by 16.8% during the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 467 shares during the period. United Services Automobile Association raised its holdings in CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 540 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock valued at $4,678,000 after acquiring an additional 544 shares in the last quarter. Pitcairn Co. boosted its stake in shares of CareTrust REIT by 5.3% in the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 671 shares during the period. Finally, US Bancorp DE raised its stake in CareTrust REIT by 6.2% during the 3rd quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust’s stock valued at $364,000 after purchasing an additional 692 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRE has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. 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. Royal Bank of Canada boosted their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, KeyCorp raised their price objective on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Price Performance

CTRE stock opened at $29.16 on Wednesday. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The firm has a market capitalization of $5.00 billion, a P/E ratio of 40.50 and a beta of 1.07. The company has a fifty day simple moving average of $30.61 and a two-hundred day simple moving average of $28.41. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $74.12 million. During the same period in the previous year, the business posted $0.35 EPS. Analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal 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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio is currently 161.11%.

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.