CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) CFO William M. Wagner sold 35,000 shares of the 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 sale, the chief financial officer now owns 257,439 shares of the company's stock, valued at approximately $7,671,682.20. The sale was disclosed in a filing with the SEC, which is accessible through this link.
CareTrust REIT Trading Up 0.3 %
Shares of NASDAQ CTRE opened at $29.92 on Friday. The business has a fifty day moving average price of $27.42 and a 200 day moving average price of $25.43. CareTrust REIT, Inc. has a 1-year low of $19.67 and a 1-year high of $30.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37. The stock has a market capitalization of $4.25 billion, a P/E ratio of 57.54 and a beta of 1.09.
CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The firm 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 company posted $0.35 earnings per share. Equities research analysts expect that CareTrust REIT, Inc. will post 1.48 EPS for the current fiscal year.
CareTrust REIT Announces Dividend
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The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT's dividend payout ratio is currently 223.08%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on CTRE shares. Wedbush began coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They set a "neutral" rating and a $26.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. KeyCorp raised their target price on shares of CareTrust REIT from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Thursday, May 9th. Wells Fargo & Company boosted their price target on CareTrust REIT from $24.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on CareTrust REIT from $23.00 to $27.00 and gave the stock a "hold" rating in a research report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.67.
View Our Latest Stock Analysis on CTRE
Hedge Funds Weigh In On CareTrust REIT
A number of large investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew its holdings 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 valued at $3,471,000 after buying an additional 45,400 shares during 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 increased its holdings in CareTrust REIT by 32.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust's stock worth $3,052,000 after buying an additional 30,619 shares during the period. Vanguard Group Inc. raised its position in CareTrust REIT by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust's stock worth $493,925,000 after buying an additional 2,376,832 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its stake in CareTrust REIT by 1.6% during 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. 87.77% of the stock is owned by institutional investors and hedge funds.
About CareTrust REIT
(
Get Free Report)
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.
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