CareTrust REIT, Inc. $CTRE Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC slashed its CareTrust REIT stake by 95.1% in the fourth quarter, selling 107,907 shares and leaving it with 5,509 shares worth about $199,000.
• Analyst sentiment remains broadly positive, with multiple firms issuing Buy/Outperform ratings and a consensus price target of $42.82, even though Zacks Research downgraded the stock to strong sell.
• CareTrust REIT reported Q4 EPS of $0.50, beating estimates, and raised its quarterly dividend to $0.39 per share, implying an annualized yield of about 3.8%.

Horizon Investments LLC reduced its position in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 95.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,509 shares of the company's stock after selling 107,907 shares during the period. Horizon Investments LLC's holdings in CareTrust REIT were worth $199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. EverSource Wealth Advisors LLC increased its position in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. Heritage Wealth Advisors increased its position in shares of CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company's stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP increased its position in shares of CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company's stock valued at $36,000 after acquiring an additional 555 shares during the last quarter. Groesbeck Investment Management Corp NJ acquired a new stake in shares of CareTrust REIT during the fourth quarter valued at about $43,000. Finally, Farther Finance Advisors LLC increased its position in shares of CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the company's stock valued at $52,000 after acquiring an additional 640 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a "market outperform" rating for the company. Mizuho initiated coverage on shares of CareTrust REIT in a research report on Thursday, April 2nd. They set an "outperform" rating and a $42.00 price target for the company. Zacks Research cut shares of CareTrust REIT from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 25th. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Thursday, March 26th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of "Buy" and a consensus price target of $42.82.

CareTrust REIT Trading Up 5.0%

Shares of CTRE stock opened at $41.49 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $9.26 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.77. The company has a 50 day moving average price of $38.97 and a 200 day moving average price of $37.69. CareTrust REIT, Inc. has a fifty-two week low of $27.72 and a fifty-two week high of $41.72.

CareTrust REIT (NYSE:CTRE - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $134.86 million during the quarter. CareTrust REIT had a net margin of 64.10% and a return on equity of 8.86%. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS. Equities research analysts predict that CareTrust REIT, Inc. will post 2 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. CareTrust REIT's payout ratio is presently 85.90%.

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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