Natixis Advisors LLC Lowers Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Natixis Advisors LLC trimmed its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,610 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Natixis Advisors LLC’s holdings in CareTrust REIT were worth $3,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CTRE. State Board of Administration of Florida Retirement System grew its holdings in shares of CareTrust REIT by 31.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 37,545 shares of the real estate investment trust’s stock worth $915,000 after purchasing an additional 8,940 shares in the last quarter. Vanguard Group Inc. grew its stake in CareTrust REIT by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after buying an additional 2,376,832 shares in the last quarter. American International Group Inc. increased its holdings in shares of CareTrust REIT by 17.6% in the 1st quarter. American International Group Inc. now owns 65,180 shares of the real estate investment trust’s stock worth $1,588,000 after buying an additional 9,765 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of CareTrust REIT by 17.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 288,206 shares of the real estate investment trust’s stock valued at $7,024,000 after buying an additional 42,079 shares in the last quarter. Finally, BOKF NA lifted its holdings in shares of CareTrust REIT by 35.7% during the 1st quarter. BOKF NA now owns 10,437 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 2,744 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

CTRE opened at $30.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The stock’s 50 day simple moving average is $30.77 and its 200 day simple moving average is $28.12. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 42.08 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results 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). The firm had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.83%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of research reports. KeyCorp raised their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Royal Bank of Canada upped their target price on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, BMO Capital Markets lifted their price target on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have assigned 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 target price of $31.00.

Insider Transactions at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the company’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 transaction 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 represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.75% of the stock is currently owned by company insiders.

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.