Sound Income Strategies LLC Boosts Position in CareTrust REIT, Inc. $CTRE

Sound Income Strategies LLC increased its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 621,732 shares of the company’s stock after purchasing an additional 37,503 shares during the quarter. CareTrust REIT makes up approximately 1.1% of Sound Income Strategies LLC’s portfolio, making the stock its 17th biggest position. Sound Income Strategies LLC’s holdings in CareTrust REIT were worth $23,477,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Impact Investors Inc lifted its stake in CareTrust REIT by 12.9% during the fourth quarter. Impact Investors Inc now owns 6,936 shares of the company’s stock worth $251,000 after purchasing an additional 793 shares during the last quarter. Savvy Advisors Inc. purchased a new stake in CareTrust REIT during the fourth quarter worth approximately $322,000. Aberdeen Group plc lifted its stake in CareTrust REIT by 6.0% during the fourth quarter. Aberdeen Group plc now owns 89,948 shares of the company’s stock worth $3,253,000 after purchasing an additional 5,124 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in CareTrust REIT by 31.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 470,060 shares of the company’s stock worth $17,068,000 after purchasing an additional 112,035 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in CareTrust REIT by 18.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 55,515 shares of the company’s stock valued at $2,007,000 after buying an additional 8,573 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

CTRE has been the subject of a number of research reports. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Mizuho initiated coverage on CareTrust REIT in a research note on Thursday, April 2nd. They issued an “outperform” rating and a $42.00 price objective for the company. Cantor Fitzgerald boosted their price objective on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group set a $44.00 price objective on CareTrust REIT in a research note on Thursday, January 22nd. Finally, Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $42.82.

CareTrust REIT Price Performance

Shares of NYSE CTRE opened at $37.40 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a twelve month low of $25.82 and a twelve month high of $41.72. The stock has a 50 day moving average of $38.84 and a two-hundred day moving average of $36.99. The stock has a market cap of $8.35 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.58 and a beta of 0.77.

CareTrust REIT (NYSE:CTRE) last issued its quarterly earnings data 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 company had revenue of $134.86 million during the quarter. CareTrust REIT had a return on equity of 8.98% and a net margin of 67.28%.CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.39 dividend. The ex-dividend date of this dividend is 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 4.2%. CareTrust REIT’s dividend payout ratio is presently 86.45%.

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.