CareTrust REIT’s (CTRE) Sector Perform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of CareTrust REIT (NYSE:CTRE) in a research report sent to investors on Monday,Benzinga reports. The firm currently has a $43.00 price target on the stock.

Several other analysts have also commented on CTRE. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Raymond James Financial cut their price objective on shares of CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday. KeyCorp reiterated an “overweight” rating on shares of CareTrust REIT in a research note on Wednesday, September 16th. Weiss Ratings raised shares of CareTrust REIT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, September 25th. Finally, Huntington assumed coverage on shares of CareTrust REIT in a research note on Thursday, September 10th. They issued an “outperform” rating and a $44.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and an average target price of $44.25.

CareTrust REIT Trading Down 1.9%

Shares of NYSE:CTRE opened at $35.86 on Monday. The company has a market capitalization of $8.47 billion, a PE ratio of 22.56, a P/E/G ratio of 1.43 and a beta of 0.75. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.27. CareTrust REIT has a 12-month low of $32.79 and a 12-month high of $43.62. The business’s fifty day simple moving average is $38.85 and its 200-day simple moving average is $39.36.

CareTrust REIT (NYSE:CTRE) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%.The firm had revenue of $161.35 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. As a group, equities research analysts predict that CareTrust REIT will post 2.07 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.3%. CareTrust REIT’s payout ratio is presently 98.11%.

Hedge Funds Weigh In On CareTrust REIT

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in CareTrust REIT during the 2nd quarter worth approximately $1,643,290,000. Deutsche Bank AG acquired a new position in CareTrust REIT during the 2nd quarter valued at approximately $143,963,000. Dimensional Fund Advisors LP raised its holdings in shares of CareTrust REIT by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,333,252 shares of the company’s stock worth $122,164,000 after buying an additional 61,417 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CareTrust REIT by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 2,558,104 shares of the company’s stock worth $93,755,000 after buying an additional 127,138 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CareTrust REIT by 35,170.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,411,896 shares of the company’s stock worth $56,970,000 after buying an additional 1,407,893 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

About CareTrust REIT

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.