CareTrust REIT, Inc. $CTRE Shares Bought by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. increased its stake in CareTrust REIT (NYSE:CTRE) by 9.3% in Q4, buying 37,192 shares to hold 436,294 shares (~0.20% of the company) valued at about $15.78 million.
• Wall Street is broadly bullish on CTRE with a consensus "Buy" rating and a $42.82 average price target; recent analyst moves include UBS raising its target to $48 and Wells Fargo to $42.
• CareTrust raised its quarterly dividend to $0.39 (from $0.34), a $1.56 annualized payout and a 3.9% yield, though the dividend payout ratio is relatively high at 86.45%.

Massachusetts Financial Services Co. MA increased its position in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 436,294 shares of the company's stock after purchasing an additional 37,192 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.20% of CareTrust REIT worth $15,776,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in CareTrust REIT by 134.2% during the second 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. Heritage Wealth Advisors raised its holdings in CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company's stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Allworth Financial LP raised its holdings in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company's stock worth $36,000 after purchasing an additional 555 shares in the last quarter. Groesbeck Investment Management Corp NJ purchased a new position in CareTrust REIT during the fourth quarter worth about $43,000. Finally, Farther Finance Advisors LLC raised its holdings in CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the company's stock worth $52,000 after purchasing an additional 640 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRE has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of CareTrust REIT from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Thursday, March 26th. Citizens Jmp initiated coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a "market outperform" rating and a $44.00 price target for the company. UBS Group increased 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. Citigroup started coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a "market outperform" rating on the stock. Finally, Mizuho started coverage on shares of CareTrust REIT in a research report on Thursday, April 2nd. They set an "outperform" rating and a $42.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $42.82.

CareTrust REIT Stock Down 0.5%

CTRE stock opened at $39.52 on Friday. The company's 50 day simple moving average is $39.21 and its 200-day simple moving average is $37.22. The firm has a market capitalization of $8.82 billion, a PE ratio of 25.49, a P/E/G ratio of 2.66 and a beta of 0.77. CareTrust REIT, Inc. has a 12 month low of $27.27 and a 12 month high of $41.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.73.

CareTrust REIT (NYSE:CTRE - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $134.86 million for the quarter. CareTrust REIT had a net margin of 67.28% and a return on equity of 8.98%. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

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

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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