Hudson Edge Investment Partners Inc. Reduces Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Hudson Edge Investment Partners Inc. lessened its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 40.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,688 shares of the real estate investment trust’s stock after selling 5,279 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in CareTrust REIT were worth $193,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Nomura Asset Management Co. Ltd. increased its position in shares of CareTrust REIT by 41.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 155,100 shares of the real estate investment trust’s stock worth $3,471,000 after purchasing an additional 45,400 shares in the last quarter. Hazelview Securities Inc. purchased a new stake in CareTrust REIT in the first quarter valued at approximately $20,047,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of CareTrust REIT by 32.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust’s stock valued at $3,052,000 after acquiring an additional 30,619 shares during the period. Vanguard Group Inc. grew its position in shares of CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after acquiring an additional 2,376,832 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of CareTrust REIT by 1.6% in the 1st quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock valued at $70,924,000 after acquiring an additional 45,733 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CareTrust REIT stock traded down $0.15 during midday trading on Friday, reaching $29.78. The company’s stock had a trading volume of 1,268,385 shares, compared to its average volume of 1,372,521. The firm has a market capitalization of $4.23 billion, a PE ratio of 57.27 and a beta of 1.10. CareTrust REIT, Inc. has a fifty-two week low of $19.79 and a fifty-two week high of $30.33. The stock’s 50 day simple moving average is $27.52 and its 200 day simple moving average is $25.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. The company had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. During the same period in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT’s payout ratio is currently 223.08%.

Insider Buying and Selling

In other news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction 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. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Wedbush initiated coverage on CareTrust REIT in a report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.67.

CareTrust REIT Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.