Greenland Capital Management LP Acquires Shares of 240,000 CareTrust REIT, Inc. $CTRE

Key Points

• Greenland Capital Management acquired 240,000 CareTrust REIT shares worth approximately $9.7 million, while institutional investors collectively own 87.77% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $44.82, compared with the stock’s reported price of $39.71.
• CareTrust REIT met quarterly EPS estimates at $0.51 and reported $161.35 million in revenue; it also pays a $0.39 quarterly dividend, representing a 3.9% annualized yield.

Greenland Capital Management LP bought a new position in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 240,000 shares of the company's stock, valued at approximately $9,684,000. CareTrust REIT accounts for 1.2% of Greenland Capital Management LP's investment portfolio, making the stock its 14th biggest position. Greenland Capital Management LP owned about 0.10% of CareTrust REIT at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CTRE. Quantbot Technologies LP bought a new stake in shares of CareTrust REIT in the second quarter valued at approximately $3,471,000. WealthShield Partners LLC bought a new position in CareTrust REIT in the 2nd quarter worth approximately $1,905,000. Madison Wealth Partners Inc bought a new position in CareTrust REIT in the 2nd quarter worth approximately $205,000. De Lisle Partners LLP purchased a new position in CareTrust REIT in the 2nd quarter valued at approximately $1,254,000. Finally, William Blair Investment Management LLC purchased a new position in CareTrust REIT in the 2nd quarter valued at approximately $23,025,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTRE. Weiss Ratings downgraded CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday. BMO Capital Markets lifted their price target on CareTrust REIT from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Raymond James Financial started coverage on CareTrust REIT in a research note on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price objective on the stock. Zacks Research raised CareTrust REIT from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. Finally, Citigroup restated a "market outperform" rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.82.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $39.71 on Friday. The company's fifty day moving average price is $40.44 and its 200-day moving average price is $39.70. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.56 and a beta of 0.75. CareTrust REIT, Inc. has a one year low of $32.79 and a one year high of $43.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57.

CareTrust REIT (NYSE:CTRE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.51. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. The company had revenue of $161.35 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. On average, equities research analysts anticipate that CareTrust REIT, Inc. will post 2.05 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.9%. CareTrust REIT's payout ratio is 98.11%.

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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