Traphagen Investment Advisors LLC Makes New Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Traphagen Investment Advisors LLC bought a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,675 shares of the real estate investment trust’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in CareTrust REIT in the second quarter worth $27,000. Blue Trust Inc. raised its stake in shares of CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares during the period. Rothschild Investment LLC purchased a new position in shares of CareTrust REIT in the 2nd quarter worth about $34,000. Quest Partners LLC bought a new position in CareTrust REIT during the second quarter valued at about $40,000. Finally, GAMMA Investing LLC grew its position in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,143 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded up $0.05 during trading hours on Tuesday, reaching $30.39. The company had a trading volume of 99,122 shares, compared to its average volume of 1,410,972. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $31.51. The firm has a market cap of $4.32 billion, a PE ratio of 58.38 and a beta of 1.10. The business has a fifty day simple moving average of $30.01 and a 200 day simple moving average of $27.03.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. 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 previous year, the firm earned $0.35 EPS. On average, analysts anticipate that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio is presently 223.08%.

Analysts Set New Price Targets

Several analysts have commented on CTRE shares. KeyCorp lifted their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. 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 note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their target price on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. BMO Capital Markets upped their price target 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 increased their price target for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Insider Buying and Selling at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total value of $1,043,000.00. Following the transaction, the chief financial officer now owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.75% of the company’s stock.

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.