Loomis Sayles & Co. L P Boosts Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Loomis Sayles & Co. L P boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5,527.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,026 shares of the real estate investment trust’s stock after purchasing an additional 1,990 shares during the quarter. Loomis Sayles & Co. L P’s holdings in CareTrust REIT were worth $63,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in CareTrust REIT during the second quarter worth $27,000. Rothschild Investment LLC purchased a new stake in shares of CareTrust REIT in the second quarter valued at $34,000. Blue Trust Inc. lifted its position 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 acquiring an additional 772 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of CareTrust REIT in the second quarter valued at $40,000. Finally, GAMMA Investing LLC lifted its position in shares of CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,143 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $29.91 on Friday. The firm has a market capitalization of $5.13 billion, a P/E ratio of 41.54 and a beta of 1.09. The stock has a fifty day moving average price of $30.71 and a 200 day moving average price of $28.25. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. 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 (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 the consensus estimate of $0.29 by ($0.08). The firm had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the prior year, the company earned $0.35 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.88%. CareTrust REIT’s dividend payout ratio is presently 161.11%.

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. This trade represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.