Principal Financial Group Inc. Has $48.04 Million Position in CareTrust REIT, Inc. $CTRE

Key Points

• Principal Financial Group increased its stake in CareTrust REIT by 7.5% in the fourth quarter, bringing its holdings to 1,328,660 shares valued at about $48.0 million.
• Wall Street sentiment remains positive overall: analysts have a Buy consensus rating on CTRE, with a consensus price target of $42.82.
• CareTrust REIT reported quarterly EPS of $0.50, topping estimates, and recently raised its dividend to $0.39 per share quarterly, or $1.56 annually, for a 3.8% yield.

Principal Financial Group Inc. increased its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,660 shares of the company's stock after buying an additional 93,101 shares during the quarter. Principal Financial Group Inc. owned about 0.60% of CareTrust REIT worth $48,044,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. 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 worth $35,000 after buying 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 worth $36,000 after buying an additional 555 shares in the last quarter. 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 worth $34,000 after buying an additional 644 shares in the last quarter. Groesbeck Investment Management Corp NJ acquired a new stake in CareTrust REIT during the fourth quarter worth approximately $43,000. Finally, USA Financial Formulas acquired a new stake in CareTrust REIT during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTRE. Cantor Fitzgerald increased their price target on CareTrust REIT from $37.00 to $42.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Wells Fargo & Company increased their price target on CareTrust REIT from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Thursday, March 26th. Citigroup began coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a "market outperform" rating on the stock. Royal Bank Of Canada increased their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group set a $44.00 target price on CareTrust REIT in a report on Thursday, January 22nd. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, CareTrust REIT 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 stock's fifty day moving average price is $38.97 and its two-hundred day moving average price is $37.69. The company has a market cap of $9.26 billion, a PE ratio of 26.59, a P/E/G ratio of 2.64 and a beta of 0.77. CareTrust REIT, Inc. has a fifty-two week low of $27.72 and a fifty-two week high of $41.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.73 and a current ratio of 1.73.

CareTrust REIT (NYSE:CTRE - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $134.86 million for the quarter. CareTrust REIT had a return on equity of 8.86% and a net margin of 64.10%.CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS. Equities analysts predict that CareTrust REIT, Inc. will post 1.98 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.34. CareTrust REIT's dividend payout ratio (DPR) is 85.90%.

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.

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