Principal Financial Group Inc. Purchases 93,101 Shares of CareTrust REIT, Inc. $CTRE

Principal Financial Group Inc. grew its position in CareTrust REIT, Inc. (NYSE:CTRE) by 7.5% in the fourth quarter, Holdings Channel reports. The fund owned 1,328,660 shares of the company’s stock after acquiring an additional 93,101 shares during the quarter. Principal Financial Group Inc.’s holdings in CareTrust REIT were worth $48,044,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTRE. EverSource Wealth Advisors LLC lifted its stake in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. Heritage Wealth Advisors lifted its stake in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP lifted its stake in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after acquiring an additional 555 shares during the last quarter. Groesbeck Investment Management Corp NJ bought a new position in shares of CareTrust REIT in the 4th quarter valued at $43,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of CareTrust REIT by 75.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the company’s stock valued at $52,000 after acquiring an additional 640 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CTRE. Royal Bank Of Canada increased their price target on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a research note on Thursday, January 22nd. Cantor Fitzgerald increased their price target on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Citigroup began coverage on CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating for the company. Finally, Citizens Jmp began coverage on CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CareTrust REIT presently has an average rating of “Buy” and an average target price of $42.82.

CareTrust REIT Stock Up 5.0%

Shares of NYSE:CTRE opened at $41.49 on Friday. The firm has a market cap of $9.26 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.64 and a beta of 0.77. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a 12-month low of $27.72 and a 12-month high of $41.72. The business has a fifty day simple moving average of $38.97 and a 200 day simple moving average of $37.69.

CareTrust REIT (NYSE:CTRE) last announced its 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 business had revenue of $134.86 million during 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. Analysts predict that CareTrust REIT, Inc. will post 1.98 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 annualized dividend and a yield of 3.8%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio is 85.90%.

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.