State of Alaska Department of Revenue Increases Stock Position in CareTrust REIT, Inc. $CTRE

State of Alaska Department of Revenue raised its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 14.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 244,811 shares of the company’s stock after purchasing an additional 30,619 shares during the quarter. State of Alaska Department of Revenue’s holdings in CareTrust REIT were worth $8,850,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTRE. Vanguard Group Inc. boosted its position in CareTrust REIT by 14.1% during the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the company’s stock valued at $1,143,511,000 after buying an additional 4,067,975 shares during the period. Hudson Bay Capital Management LP boosted its position in CareTrust REIT by 713.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock valued at $59,321,000 after buying an additional 1,989,394 shares during the period. Daiwa Securities Group Inc. boosted its position in CareTrust REIT by 114.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock valued at $112,305,000 after buying an additional 1,728,043 shares during the period. Copeland Capital Management LLC boosted its position in CareTrust REIT by 350.9% during the 3rd quarter. Copeland Capital Management LLC now owns 1,716,101 shares of the company’s stock valued at $59,514,000 after buying an additional 1,335,513 shares during the period. Finally, State Street Corp boosted its position in CareTrust REIT by 11.7% during the 3rd quarter. State Street Corp now owns 12,206,572 shares of the company’s stock valued at $427,336,000 after buying an additional 1,277,378 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 2.2%

NYSE:CTRE opened at $38.81 on Tuesday. The company has a 50-day moving average price of $39.07 and a 200-day moving average price of $37.15. CareTrust REIT, Inc. has a 12 month low of $27.27 and a 12 month high of $41.72. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.22. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 2.66 and a beta of 0.77.

CareTrust REIT (NYSE:CTRE) last posted its earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. CareTrust REIT had a net margin of 67.28% and a return on equity of 8.98%. The firm had revenue of $134.86 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.56 annualized dividend and a dividend yield of 4.0%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio is 86.45%.

Analyst Ratings Changes

CTRE has been the subject of several analyst reports. Citigroup initiated coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating for the company. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research report on Thursday, January 22nd. Cantor Fitzgerald increased their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. UBS Group increased their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets raised shares of CareTrust REIT from a “hold” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, January 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of “Buy” and a consensus price target of $42.82.

CareTrust REIT Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.