Adelante Capital Management LLC Takes $22.01 Million Position in CareTrust REIT, Inc. $CTRE

Adelante Capital Management LLC acquired a new position in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 545,493 shares of the company's stock, valued at approximately $22,011,000. CareTrust REIT comprises about 1.4% of Adelante Capital Management LLC's holdings, making the stock its 20th largest holding. Adelante Capital Management LLC owned approximately 0.23% of CareTrust REIT as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CTRE. D.A. Davidson & CO. lifted its stake in shares of CareTrust REIT by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company's stock worth $1,475,000 after buying an additional 282 shares during the period. Swiss Life Asset Management Ltd raised its stake in CareTrust REIT by 2.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company's stock worth $373,000 after acquiring an additional 291 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in CareTrust REIT by 1.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company's stock worth $1,015,000 after acquiring an additional 297 shares during the period. Tocqueville Asset Management L.P. lifted its position in CareTrust REIT by 2.8% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company's stock worth $378,000 after acquiring an additional 300 shares during the period. Finally, UMB Bank n.a. raised its position in CareTrust REIT by 25.3% during the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company's stock worth $55,000 after buying an additional 308 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of analyst reports. Raymond James Financial assumed coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Zacks Research raised shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings lowered CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, August 21st. Finally, Cantor Fitzgerald increased their target price on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus price target of $44.82.

CareTrust REIT Trading Up 0.3%

Shares of CTRE stock opened at $40.00 on Thursday. CareTrust REIT, Inc. has a 1-year low of $32.79 and a 1-year high of $43.62. The firm has a market cap of $9.45 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.57 and a beta of 0.75. The company has a 50-day moving average of $40.62 and a two-hundred day moving average of $39.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57.

CareTrust REIT (NYSE:CTRE - Get Free Report) last posted 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 firm 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, analysts predict that CareTrust REIT, Inc. will post 2.05 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.9%. CareTrust REIT's payout ratio is presently 98.11%.

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.

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