Danske Bank A S Lowers Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Danske Bank A/S cut its stake in CareTrust REIT by 92.8% in Q4, leaving just 2,400 shares worth roughly $87,000.
• Analysts have been raising ratings and targets recently, with CTRE now holding a consensus "Buy" rating and a consensus target price of $42.82.
• CareTrust increased its quarterly dividend to $0.39 (annualized $1.56), a 4.0% yield, although the payout ratio is relatively high at 86.45%.

Danske Bank A S decreased its stake in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 92.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,400 shares of the company's stock after selling 30,767 shares during the quarter. Danske Bank A S's holdings in CareTrust REIT were worth $87,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CTRE. Vanguard Group Inc. raised its holdings in CareTrust REIT by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company's stock worth $1,199,940,000 after purchasing an additional 210,965 shares during the period. State Street Corp raised its holdings in CareTrust REIT by 11.7% in the 3rd quarter. State Street Corp now owns 12,206,572 shares of the company's stock worth $427,336,000 after purchasing an additional 1,277,378 shares during the period. Daiwa Securities Group Inc. raised its holdings in CareTrust REIT by 114.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company's stock worth $112,305,000 after purchasing an additional 1,728,043 shares during the period. Alyeska Investment Group L.P. raised its holdings in CareTrust REIT by 19.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 3,116,292 shares of the company's stock worth $108,073,000 after purchasing an additional 509,298 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in CareTrust REIT by 17.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,100,590 shares of the company's stock worth $107,525,000 after purchasing an additional 468,719 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an "outperform" rating in a report on Tuesday, February 24th. Cantor Fitzgerald upped their price target on CareTrust REIT from $37.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Citigroup assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a "market outperform" rating for the company. Weiss Ratings raised CareTrust REIT from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, January 26th. Finally, BMO Capital Markets raised CareTrust REIT from a "hold" rating to an "outperform" rating and set a $43.00 price target for the company in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $42.82.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $39.47 on Friday. The business has a 50 day simple moving average of $38.97 and a two-hundred day simple moving average of $37.69. CareTrust REIT, Inc. has a 12 month low of $27.72 and a 12 month high of $41.72. The stock has a market capitalization of $8.81 billion, a P/E ratio of 25.46, a PEG ratio of 2.64 and a beta of 0.77. 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 announced its earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. CareTrust REIT had a return on equity of 8.98% and a net margin of 67.28%.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. As a group, analysts predict that CareTrust REIT, Inc. will post 1.98 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

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