Jennison Associates LLC Makes New Investment in CareTrust REIT, Inc. $CTRE

Jennison Associates LLC purchased a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 31,968 shares of the company’s stock, valued at approximately $1,156,000.

Several other hedge funds also recently modified their holdings of CTRE. Aberdeen Group plc raised its position in CareTrust REIT by 22.1% in the third quarter. Aberdeen Group plc now owns 84,824 shares of the company’s stock worth $2,911,000 after acquiring an additional 15,374 shares in the last quarter. AGF Management Ltd. bought a new position in shares of CareTrust REIT during the 3rd quarter valued at about $538,000. Allspring Global Investments Holdings LLC boosted its position in shares of CareTrust REIT by 31.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 358,025 shares of the company’s stock valued at $12,617,000 after purchasing an additional 85,022 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of CareTrust REIT by 30.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,235,559 shares of the company’s stock worth $42,849,000 after purchasing an additional 285,209 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of CareTrust REIT by 6.4% in the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock worth $23,477,000 after purchasing an additional 37,503 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CTRE. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, January 26th. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research report on Thursday, January 22nd. Citigroup assumed coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating for the company. UBS Group raised their price objective on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Citizens Jmp assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.82.

CareTrust REIT Price Performance

CTRE stock opened at $39.20 on Monday. CareTrust REIT, Inc. has a one year low of $27.27 and a one year high of $41.72. The firm has a 50-day moving average of $39.02 and a two-hundred day moving average of $37.58. The firm has a market capitalization of $8.75 billion, a PE ratio of 25.29, a P/E/G ratio of 2.62 and a beta of 0.77. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.22.

CareTrust REIT (NYSE:CTRE) last released its earnings results on Thursday, February 12th. The company reported $0.50 earnings per share 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 business had revenue of $134.86 million for the quarter. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS. On average, analysts forecast that CareTrust REIT, Inc. will post 1.98 earnings per share for the current year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio is presently 86.45%.

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.