Sound Income Strategies LLC Has $12.80 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Sound Income Strategies LLC boosted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTREFree Report) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 414,804 shares of the real estate investment trust’s stock after purchasing an additional 50,573 shares during the period. Sound Income Strategies LLC’s holdings in CareTrust REIT were worth $12,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC raised its stake in CareTrust REIT by 16.8% in the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 467 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in CareTrust REIT in the third quarter valued at approximately $696,000. GAMMA Investing LLC raised its stake in CareTrust REIT by 85.1% in the third quarter. GAMMA Investing LLC now owns 3,243 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 1,491 shares during the period. Handelsbanken Fonder AB raised its stake in CareTrust REIT by 68.3% in the third quarter. Handelsbanken Fonder AB now owns 43,846 shares of the real estate investment trust’s stock valued at $1,353,000 after buying an additional 17,800 shares during the period. Finally, Trust Co. of Toledo NA OH raised its stake in CareTrust REIT by 9.7% in the third quarter. Trust Co. of Toledo NA OH now owns 35,450 shares of the real estate investment trust’s stock valued at $1,094,000 after buying an additional 3,132 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Activity at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of the business’s 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 directly owns 257,439 shares of the company’s stock, valued at $7,671,682.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CTRE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. KeyCorp increased their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets increased their target price on CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada increased 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $31.00.

View Our Latest Analysis on CareTrust REIT

CareTrust REIT Price Performance

NASDAQ:CTRE traded up $0.35 during trading hours on Friday, reaching $30.24. 914,195 shares of the company were exchanged, compared to its average volume of 1,425,914. The business has a 50 day moving average of $29.63 and a 200 day moving average of $26.74. The company has a market capitalization of $4.30 billion, a P/E ratio of 58.15 and a beta of 1.10. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $31.51. 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 (NASDAQ:CTREGet Free Report) last issued 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 business had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. During the same period in the prior year, the business posted $0.35 EPS. Research analysts forecast that CareTrust REIT, Inc. will post 1.48 EPS for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 223.08%.

CareTrust REIT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

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