Freestone Grove Partners LP Buys New Position in CareTrust REIT, Inc. $CTRE

Freestone Grove Partners LP purchased a new stake in CareTrust REIT, Inc. (NYSE:CTRE) in the second quarter, HoldingsChannel.com reports. The firm purchased 39,113 shares of the company’s stock, valued at approximately $1,578,000.

Several other institutional investors have also added to or reduced their stakes in CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT during the fourth quarter worth about $27,000. Persistent Asset Partners Ltd purchased a new position in shares of CareTrust REIT in the 2nd quarter valued at approximately $31,000. Transamerica Financial Advisors LLC raised its position in shares of CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares during the last quarter. Compass Financial Management LLC acquired a new stake in CareTrust REIT in the 2nd quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC boosted its stake in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Down 0.9%

CareTrust REIT stock opened at $39.02 on Friday. The firm has a market cap of $9.22 billion, a PE ratio of 24.54, a P/E/G ratio of 1.54 and a beta of 0.75. CareTrust REIT, Inc. has a 12 month low of $32.79 and a 12 month high of $43.62. The stock’s 50 day simple moving average is $40.71 and its two-hundred day simple moving average is $39.77. 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 (NYSE:CTRE) last posted its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. 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. Analysts anticipate that CareTrust REIT, Inc. will post 2.05 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 4.0%. CareTrust REIT’s payout ratio is presently 98.11%.

Analyst Upgrades and Downgrades

CTRE has been the topic of several research analyst reports. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. BMO Capital Markets raised their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Royal Bank Of Canada downgraded shares of CareTrust REIT from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $44.00 to $43.00 in a research note on Friday, August 14th. Cantor Fitzgerald boosted their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, KeyCorp reissued an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.82.

About CareTrust REIT

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.