CareTrust REIT, Inc. $CTRE Stock Position Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 10.0% in the third quarter, Holdings Channel.com reports. The firm owned 170,515 shares of the company’s stock after acquiring an additional 15,545 shares during the period. State of Alaska Department of Revenue’s holdings in CareTrust REIT were worth $6,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Persistent Asset Partners Ltd bought a new stake in shares of CareTrust REIT in the second quarter valued at about $31,000. Compass Financial Management LLC acquired a new position in shares of CareTrust REIT during the second quarter worth about $34,000. Burnham & Co LLC acquired a new position in shares of CareTrust REIT during the second quarter worth about $61,000. Allworth Financial LP bought a new position in shares of CareTrust REIT during the second quarter worth about $66,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of CareTrust REIT by 63.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,199 shares of the company’s stock worth $81,000 after buying an additional 850 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTRE. BMO Capital Markets dropped their target price on CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. UBS Group reduced their price target on CareTrust REIT from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Raymond James Financial decreased their price target on shares of CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $43.00 price objective on shares of CareTrust REIT in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. started coverage on shares of CareTrust REIT in a research report on Friday. They issued a “neutral” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.71.

CareTrust REIT Stock Down 0.2%

Shares of NYSE CTRE traded down $0.08 during mid-day trading on Friday, hitting $36.51. The company had a trading volume of 2,241,863 shares, compared to its average volume of 2,664,815. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $38.14 and a two-hundred day simple moving average of $39.30. The company has a market capitalization of $8.63 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.43 and a beta of 0.75. CareTrust REIT, Inc. has a one year low of $33.72 and a one year high of $43.62.

CareTrust REIT (NYSE:CTRE) last released its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%. The business had revenue of $161.35 million for the quarter. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. On average, equities analysts expect that CareTrust REIT, Inc. will post 2.07 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.56 annualized dividend and a dividend yield of 4.3%. CareTrust REIT’s payout ratio is 98.11%.

CareTrust REIT Profile

CareTrust REIT, Inc is a real estate investment trust that owns, acquires, develops, and leases healthcare-related properties. Its portfolio is primarily focused on skilled nursing facilities, assisted living communities, and other post-acute care properties operated by third-party healthcare providers.

The company generally leases its properties under long-term agreements, including triple-net leases, under which tenants are typically responsible for property-level expenses such as taxes, insurance, and maintenance.