Truvestments Capital LLC Purchases 11,732 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Truvestments Capital LLC lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,007 shares of the real estate investment trust’s stock after purchasing an additional 11,732 shares during the quarter. CareTrust REIT accounts for about 0.9% of Truvestments Capital LLC’s holdings, making the stock its 23rd largest holding. Truvestments Capital LLC’s holdings in CareTrust REIT were worth $3,518,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CTRE. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT in the second quarter worth $27,000. Rothschild Investment LLC purchased a new position in shares of CareTrust REIT in the second quarter worth about $34,000. Blue Trust Inc. lifted its stake in shares of CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 772 shares during the last quarter. Quest Partners LLC purchased a new stake in CareTrust REIT during the 2nd quarter valued at about $40,000. Finally, GAMMA Investing LLC grew its position in 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 acquiring an additional 1,143 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

CTRE has been the subject of several recent research reports. KeyCorp boosted 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. Royal Bank of Canada upped their price target on shares of 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 shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets boosted their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $30.29 on Monday. The business has a 50 day moving average of $30.77 and a 200 day moving average of $28.17. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The company has a market cap of $5.19 billion, a PE ratio of 20.90 and a beta of 1.09. 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 issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The company had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. During the same quarter last year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.83%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Insider Buying and Selling at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 in the company, valued at $7,671,682.20. This trade represents a 11.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.