Boothbay Fund Management LLC Increases Stake in CareTrust REIT, Inc. $CTRE

Key Points

• Boothbay Fund Management increased its stake in CareTrust REIT by 110.5% in Q3 to 296,792 shares (about $10.29M).
• CareTrust raised its quarterly dividend to $0.39 (from $0.34), an annualized $1.56 with a yield of 3.9% (record date Mar 31, pay date Apr 15).
• Analysts have grown more positive—several upgrades and higher targets (recent bank targets $43–$48) leave a MarketBeat consensus Buy with an average target of $42.80.

Boothbay Fund Management LLC lifted its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 110.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 296,792 shares of the company's stock after purchasing an additional 155,774 shares during the period. Boothbay Fund Management LLC owned about 0.13% of CareTrust REIT worth $10,293,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC boosted its holdings in CareTrust REIT by 33.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 722,727 shares of the company's stock valued at $22,115,000 after acquiring an additional 181,280 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in CareTrust REIT by 34.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 306,495 shares of the company's stock worth $9,379,000 after purchasing an additional 77,720 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in CareTrust REIT by 4.4% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 271,310 shares of the company's stock worth $8,302,000 after purchasing an additional 11,440 shares during the period. Aberdeen Group plc lifted its position in CareTrust REIT by 22.1% in the third quarter. Aberdeen Group plc now owns 84,824 shares of the company's stock valued at $2,911,000 after purchasing an additional 15,374 shares during the last quarter. Finally, AGF Management Ltd. bought a new stake in CareTrust REIT in the third quarter valued at approximately $538,000. 87.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CTRE shares. BMO Capital Markets upgraded shares of CareTrust REIT from a "hold" rating to an "outperform" rating and set a $43.00 target price on the stock in a report on Friday, January 9th. Weiss Ratings upgraded shares of CareTrust REIT from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, January 26th. Royal Bank Of Canada increased their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, February 24th. UBS Group raised their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, February 18th. Finally, Cantor Fitzgerald boosted their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a "neutral" rating in a research report on Tuesday, February 17th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $42.80.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $40.01 on Friday. The firm has a market cap of $8.93 billion, a P/E ratio of 25.81, a P/E/G ratio of 2.72 and a beta of 0.74. CareTrust REIT, Inc. has a fifty-two week low of $25.82 and a fifty-two week high of $41.72. The business's 50 day moving average price is $38.58 and its 200-day moving average price is $36.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.73 and a current ratio of 1.73.

CareTrust REIT (NYSE:CTRE - Get Free Report) 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 return on equity of 8.98% and a net margin of 67.28%.The firm had revenue of $134.86 million for the quarter. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.39 dividend. This is a boost from CareTrust REIT's previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, March 31st. This represents a $1.56 annualized dividend and a yield of 3.9%. CareTrust REIT's dividend payout ratio (DPR) is currently 86.45%.

CareTrust REIT 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.

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