The Manufacturers Life Insurance Company Makes New Investment in CareTrust REIT, Inc. $CTRE

The Manufacturers Life Insurance Company purchased a new stake in CareTrust REIT, Inc. (NYSE:CTRE) during the 2nd quarter, Holdings Channel reports. The firm purchased 285,394 shares of the company’s stock, valued at approximately $11,516,000.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of CareTrust REIT in the second quarter worth $1,643,290,000. Vanguard Group Inc. boosted its stake in shares of CareTrust REIT by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after acquiring an additional 210,965 shares during the last quarter. State Street Corp boosted its stake in shares of CareTrust REIT by 1.8% during the fourth quarter. State Street Corp now owns 12,426,213 shares of the company’s stock valued at $453,411,000 after acquiring an additional 219,641 shares during the last quarter. Wellington Management Group LLP increased its position in CareTrust REIT by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after purchasing an additional 1,893,143 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in CareTrust REIT by 108.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRE has been the topic of a number of recent research reports. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Royal Bank Of Canada downgraded shares of CareTrust REIT from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $44.00 to $43.00 in a research note on Friday, August 14th. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $39.02 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.54 and a beta of 0.75. CareTrust REIT, Inc. has a one year low of $32.79 and a one year high of $43.62. The company has a 50 day moving average price of $40.71 and a 200 day moving average price of $39.77.

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

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.39 dividend. 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 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.