Trust Co. of Toledo NA OH acquires 3,132 shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Trust Co. of Toledo NA OH grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE – Free Report) by 9.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,450 shares of the real estate investment trust’s stock after acquiring an additional 3,132 shares during the quarter. Trust Co holdings. Toledo NA OH’s holdings in CareTrust REIT were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CTRE. United Services Automobile Association boosted its stake in CareTrust REIT by 5.0% in the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 540 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in CareTrust REIT by 4.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after purchasing an additional 895 shares in the last quarter. Creative Planning boosted its stake in CareTrust REIT by 3.1% during the second quarter. Creative Planning now owns 35,330 shares of the real estate investment trust’s stock valued at $887,000 after purchasing an additional 1,071 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in CareTrust REIT in the second quarter valued at $27,000. Finally, GAMMA Investing LLC boosted its holdings in 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 worth $44,000 after acquiring an additional 1,143 shares in the last quarter. 87.77% of the shares are held by hedge funds and other institutional investors.

CareTrust REIT stock fell 0.1%

CTRE opened at $30.63 on Friday. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 58.89 and a beta of 1.10. The firm has a 50-day moving average price of $29.14 and a 200-day moving average price of $26.44. CareTrust REIT, Inc. has a 12-month low of $19.89 and a 12-month high of $31.51. The company has a quick ratio of 13.37, a current ratio of 13.37, and a debt-to-equity ratio of 0.34.

CareTrust REIT (NASDAQ:CTRE – Get Free Report ) last announced 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). The company had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. In the same quarter last year, the firm posted earnings of $0.35 per share. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.29 dividend. The ex-dividend date is Monday, September 30. This represents an annualized dividend of $1.16 and a yield of 3.79%. CareTrust REIT’s payout ratio is 223.08%.

Wall Street analysts weigh in

Several equities analysts have recently issued reports on CTRE shares. Royal Bank of Canada lifted their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $28.00 to $34.00 in a Tuesday research note. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $29.00, based on data from MarketBeat.com.

Get the latest stock analysis on CTRE

Insider buying and selling at CareTrust REIT

In other news, CFO William M. Wagner sold 35,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $7,671,682.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Corporate insiders own 1.75% of the company’s shares.

About CareTrust REIT

(Free report)

The primary business of CareTrust REIT, Inc (CareTrust REIT or the Company) is to acquire, finance, develop and own real estate 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 beds and operating units located in 29 states with the highest concentration of properties by rental income located in California and Texas.

See Also

Want to see what other hedge funds own CTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for CareTrust REIT, Inc. (NASDAQ:CTRE – Free Report).

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