CareTrust REIT, Inc. $CTRE Stock Holdings Decreased by Tributary Capital Management LLC

Key Points

• Tributary Capital Management cut its stake in CareTrust REIT by 27.6% in Q4, selling 104,790 shares and leaving 274,647 shares (about 0.12% of the company) valued at $9.93 million.
• Research firms have trended positive—CareTrust has a consensus rating of "Buy" with a MarketBeat consensus target price of $42.82 and several recent upgrades from BMO, Citigroup and others.
• CareTrust raised its quarterly dividend to $0.39 (annualized $1.56), yielding ~4.0%, up from $0.34 previously and reflecting a payout ratio of 86.45%.

Tributary Capital Management LLC cut its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 27.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 274,647 shares of the company's stock after selling 104,790 shares during the period. Tributary Capital Management LLC owned about 0.12% of CareTrust REIT worth $9,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 644 shares in the last quarter. Heritage Wealth Advisors grew its position in 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 purchasing an additional 300 shares in the last quarter. Allworth Financial LP grew its position in 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 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 valued at approximately $43,000. Finally, Farther Finance Advisors LLC grew its position in 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 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

A number of research analysts recently commented on the stock. BMO Capital Markets raised shares of CareTrust REIT from a "hold" rating to an "outperform" rating and set a $43.00 price objective on the stock in a research report on Friday, January 9th. Citigroup assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a "market outperform" rating on the stock. The Goldman Sachs Group set a $44.00 price objective on shares of CareTrust REIT in a research report on Thursday, January 22nd. 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. Finally, Weiss Ratings upgraded shares of CareTrust REIT from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of "Buy" and a consensus target price of $42.82.

CareTrust REIT Price Performance

NYSE CTRE opened at $39.49 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $8.82 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 2.64 and a beta of 0.77. The company has a 50 day moving average price of $39.22 and a two-hundred day moving average price of $37.27. CareTrust REIT, Inc. has a 12-month low of $27.27 and a 12-month high of $41.72.

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

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.39 dividend. This is a boost from CareTrust REIT's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. This represents a $1.56 annualized dividend and a yield of 4.0%. CareTrust REIT's payout ratio is 86.45%.

CareTrust REIT Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.