M&T Bank Corp Buys New Position in CareTrust REIT, Inc. $CTRE

M&T Bank Corp bought a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 23,700 shares of the company’s stock, valued at approximately $857,000.

Several other hedge funds have also modified their holdings of CTRE. Royal Bank of Canada lifted its holdings in CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after buying an additional 47,936 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after buying an additional 3,408 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in CareTrust REIT by 134.2% in the 2nd 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. First Trust Advisors LP lifted its holdings in CareTrust REIT by 67.6% in the 2nd quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after buying an additional 98,850 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in CareTrust REIT by 310.1% in the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after buying an additional 27,706 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

CTRE opened at $39.47 on Friday. The company has a 50-day moving average of $39.02 and a 200-day moving average of $37.51. The company has a market capitalization of $8.81 billion, a P/E ratio of 25.46, a PEG ratio of 2.61 and a beta of 0.77. CareTrust REIT, Inc. has a 1-year low of $27.27 and a 1-year 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) last issued its quarterly 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. CareTrust REIT had a return on equity of 8.98% and a net margin of 67.28%.The business had revenue of $134.86 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS. Equities analysts expect that CareTrust REIT, Inc. will post 1.98 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.39 dividend. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.0%. CareTrust REIT’s dividend payout ratio (DPR) is presently 86.45%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTRE. Mizuho began coverage on CareTrust REIT in a report on Thursday, April 2nd. They set an “outperform” rating and a $42.00 price objective on the stock. Cantor Fitzgerald lifted their price objective on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. UBS Group lifted their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada lifted their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $42.82.

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.