CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,594 shares of the real estate investment trust’s stock after purchasing an additional 544 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CareTrust REIT were worth $4,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its position in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 467 shares during the last quarter. United Services Automobile Association boosted its position in shares of 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 worth $282,000 after buying an additional 540 shares during the period. US Bancorp DE grew its position in CareTrust REIT by 6.2% in the 3rd quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 692 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of 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 in the last quarter. Finally, Signaturefd LLC increased its position in shares of CareTrust REIT by 55.0% during the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 775 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTRE. KeyCorp raised their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. BMO Capital Markets upped their price objective on CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $30.77 on Wednesday. CareTrust REIT, Inc. has a 52-week low of $20.10 and a 52-week high of $33.15. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5.28 billion, a P/E ratio of 42.74 and a beta of 1.09. The firm has a fifty day moving average of $30.73 and a 200-day moving average of $27.85.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share 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 business had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same period in the previous year, the firm earned $0.35 EPS. As a group, analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Insider Activity at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, 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 the SEC website. 1.75% of the stock is owned by insiders.

About CareTrust REIT

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.