Y Intercept Hong Kong Ltd Trims Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Y Intercept Hong Kong Ltd decreased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 57.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,927 shares of the real estate investment trust’s stock after selling 26,730 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CareTrust REIT were worth $615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in CareTrust REIT in the second quarter valued at approximately $27,000. Rothschild Investment LLC purchased a new stake in CareTrust REIT in the second quarter valued at approximately $34,000. Blue Trust Inc. raised its position in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 772 shares during the period. Quest Partners LLC purchased a new stake in CareTrust REIT in the second quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P grew its stake in shares of CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,990 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.81 on Friday. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The company has a market cap of $4.94 billion, a P/E ratio of 40.01, a PEG ratio of 1.59 and a beta of 1.07. The firm has a fifty day moving average price of $30.34 and a 200 day moving average price of $28.59.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The company had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the prior year, the company earned $0.35 EPS. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal 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 paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 4.03%. CareTrust REIT’s dividend payout ratio is presently 161.11%.

Analysts Set New Price Targets

Several equities analysts have commented on CTRE shares. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. KeyCorp boosted 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, Royal Bank of Canada boosted their target price 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.