Greenland Capital Management LP Has $9.68 Million Stock Position in CareTrust REIT, Inc. $CTRE

Key Points

• Greenland Capital Management increased its CareTrust REIT position by 23.7% in the second quarter, owning 240,000 shares valued at $9.68 million. Institutional investors collectively hold 87.77% of CTRE.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $44.55, compared with the reported share price of $39.06.
• CareTrust REIT reported quarterly EPS of $0.51, in line with estimates, and declared a quarterly dividend of $0.39 per share—an annualized $1.56 payout and approximately 4.0% yield.

Greenland Capital Management LP raised its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,000 shares of the company's stock after purchasing an additional 46,000 shares during the period. CareTrust REIT accounts for approximately 1.2% of Greenland Capital Management LP's holdings, making the stock its 18th biggest holding. Greenland Capital Management LP owned about 0.10% of CareTrust REIT worth $9,684,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Readystate Asset Management LP acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at $249,000. Ameritas Advisory Services LLC lifted its holdings in CareTrust REIT by 110.0% during the second quarter. Ameritas Advisory Services LLC now owns 13,207 shares of the company's stock worth $533,000 after acquiring an additional 6,917 shares in the last quarter. Compass Financial Management LLC acquired a new position in CareTrust REIT in the second quarter valued at about $34,000. AlphaGrep UK Ltd bought a new stake in shares of CareTrust REIT in the second quarter worth about $432,000. Finally, Concurrent Investment Advisors LLC raised its position in shares of CareTrust REIT by 2.4% during the second quarter. Concurrent Investment Advisors LLC now owns 22,386 shares of the company's stock worth $903,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTRE. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Cantor Fitzgerald boosted their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Raymond James Financial initiated coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price objective for the company. Weiss Ratings lowered shares of CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, August 21st. Finally, Zacks Research upgraded shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.55.

CareTrust REIT Stock Performance

NYSE CTRE opened at $39.06 on Monday. The firm has a market capitalization of $9.23 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.53 and a beta of 0.76. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average price is $40.73 and its two-hundred day moving average price is $39.77. CareTrust REIT, Inc. has a 1 year low of $32.79 and a 1 year high of $43.62.

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

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.39 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 4.0%. CareTrust REIT's dividend payout ratio (DPR) is presently 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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