BNP Paribas Arbitrage SA cut its stake in shares of CareTrust REIT Inc. (NASDAQ:CTRE) by 51.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,871 shares of the real estate investment trust’s stock after selling 9,507 shares during the period. BNP Paribas Arbitrage SA’s holdings in CareTrust REIT were worth $131,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its position in CareTrust REIT by 28.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,978,764 shares of the real estate investment trust’s stock worth $25,130,000 after buying an additional 437,914 shares during the period. BlackRock Fund Advisors boosted its position in CareTrust REIT by 10.3% in the first quarter. BlackRock Fund Advisors now owns 3,686,370 shares of the real estate investment trust’s stock worth $46,817,000 after buying an additional 343,602 shares during the period. Heitman Real Estate Securities LLC acquired a new position in CareTrust REIT during the first quarter worth approximately $37,665,000. BlackRock Inc. boosted its position in CareTrust REIT by 43.2% in the first quarter. BlackRock Inc. now owns 455,369 shares of the real estate investment trust’s stock worth $5,783,000 after buying an additional 137,484 shares during the period. Finally, Prudential Financial Inc. boosted its position in CareTrust REIT by 21.5% in the first quarter. Prudential Financial Inc. now owns 133,053 shares of the real estate investment trust’s stock worth $1,690,000 after buying an additional 23,500 shares during the period. 82.52% of the stock is owned by hedge funds and other institutional investors.
CareTrust REIT Inc. (NASDAQ:CTRE) opened at 14.00 on Thursday. The firm has a market cap of $810.53 million, a PE ratio of 36.36 and a beta of 0.94. CareTrust REIT Inc. has a one year low of $9.12 and a one year high of $15.88. The firm has a 50-day moving average price of $14.70 and a 200-day moving average price of $13.91.
CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Monday, August 8th. The real estate investment trust reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. CareTrust REIT had a return on equity of 6.02% and a net margin of 20.97%. The firm earned $25.70 million during the quarter, compared to analyst estimates of $23.68 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities analysts expect that CareTrust REIT Inc. will post $1.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Wednesday, September 28th. CareTrust REIT’s payout ratio is currently 44.44%.
A number of equities analysts have recently commented on CTRE shares. Raymond James Financial Inc. started coverage on CareTrust REIT in a report on Thursday, August 25th. They set an “outperform” rating and a $13.50 price target for the company. Zacks Investment Research cut CareTrust REIT from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Canaccord Genuity boosted their price target on CareTrust REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Stephens started coverage on CareTrust REIT in a report on Wednesday, September 14th. They set an “overweight” rating and a $16.00 price target for the company. Finally, Wells Fargo & Co. started coverage on CareTrust REIT in a report on Tuesday, July 26th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. CareTrust REIT currently has an average rating of “Buy” and a consensus target price of $15.75.
About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust (REIT). The Company is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company’s segment consists of investments in healthcare-related real estate assets. The Company’s real estate portfolio includes approximately 120 skilled nursing facilities (SNFs), assisted living facilities (ALFs) and independent living facilities (ILFs).