CareTrust REIT (NYSE:CTRE) Reaches New 12-Month High – Still a Buy?

CareTrust REIT, Inc. (NYSE:CTRE) shares reached a new 52-week high on Monday . The company traded as high as $41.82 and last traded at $41.8250, with a volume of 37200 shares trading hands. The stock had previously closed at $41.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTRE shares. Zacks Research cut CareTrust REIT from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 25th. Wells Fargo & Company lifted their price target on CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a report on Thursday, January 22nd. Cantor Fitzgerald lifted their price target on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, Mizuho initiated coverage on shares of CareTrust REIT in a research note on Thursday, April 2nd. They set an “outperform” rating and a $42.00 price objective on the stock. 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. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $42.82.

CareTrust REIT Stock Down 1.0%

The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.75 and a beta of 0.77. The stock’s 50 day moving average is $38.97 and its 200 day moving average is $37.69.

CareTrust REIT (NYSE:CTRE) last posted its quarterly earnings results 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. The firm had revenue of $134.86 million for the quarter. CareTrust REIT had a net margin of 64.10% and a return on equity of 8.65%. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS. Analysts forecast that CareTrust REIT, Inc. will post 2 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.8%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 85.90%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new position in CareTrust REIT in the fourth quarter worth approximately $27,000. Transamerica Financial Advisors LLC lifted its holdings in shares of CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of CareTrust REIT by 134.2% in 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 lifted its holdings in shares of CareTrust REIT by 42.9% in 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. Finally, Allworth Financial LP lifted its holdings in shares of CareTrust REIT by 114.0% in 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. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.