CareTrust REIT (NYSE:CTRE) Hits New 12-Month High – What’s Next?

CareTrust REIT, Inc. (NYSE:CTRE) hit a new 52-week high during trading on Monday . The stock traded as high as $41.82 and last traded at $41.8250, with a volume of 37200 shares trading hands. The stock had previously closed at $41.60.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Mizuho assumed coverage on shares of CareTrust REIT in a research note on Thursday, April 2nd. They set an “outperform” rating and a $42.00 price objective for the company. Cantor Fitzgerald lifted their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Citizens Jmp assumed coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price objective for the company. Finally, The Goldman Sachs Group set a $44.00 price objective on shares of CareTrust REIT in a research note on Thursday, January 22nd. Three 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $42.82.

CareTrust REIT Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm’s 50 day moving average is $38.99 and its 200-day moving average is $37.83. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 2.68 and a beta of 0.77.

CareTrust REIT (NYSE:CTRE) last posted its earnings results on Thursday, February 12th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. CareTrust REIT had a net margin of 64.10% and a return on equity of 8.65%. 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. Analysts forecast that CareTrust REIT, Inc. will post 2 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.39 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio (DPR) is presently 85.90%.

Hedge Funds Weigh In On CareTrust REIT

Several large investors have recently made changes to their positions in CTRE. Vanguard Group Inc. lifted its stake in shares of CareTrust REIT by 14.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the company’s stock valued at $1,143,511,000 after purchasing an additional 4,067,975 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of CareTrust REIT by 108.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares during the period. Norges Bank acquired a new position in shares of CareTrust REIT in the 4th quarter valued at $114,810,000. Hudson Bay Capital Management LP raised its position in CareTrust REIT by 713.4% during the third quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock worth $59,321,000 after acquiring an additional 1,989,394 shares during the period. Finally, Wellington Management Group LLP raised its position in CareTrust REIT by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after acquiring an additional 1,893,143 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Company 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.