Elevation Point Wealth Partners LLC Makes New Investment in CareTrust REIT, Inc. $CTRE

Elevation Point Wealth Partners LLC purchased a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the second quarter, HoldingsChannel reports. The fund purchased 14,355 shares of the company’s stock, valued at approximately $580,000.

A number of other hedge funds have also recently made changes to their positions in the business. D.A. Davidson & CO. raised its stake in CareTrust REIT by 0.7% during the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock valued at $1,475,000 after purchasing an additional 282 shares during the period. Swiss Life Asset Management Ltd grew its holdings in CareTrust REIT by 2.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after buying an additional 291 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of CareTrust REIT by 1.1% during the first quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after buying an additional 297 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of CareTrust REIT by 2.8% during the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after buying an additional 300 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of CareTrust REIT by 25.3% in the fourth quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock worth $55,000 after buying an additional 308 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.2%

CTRE stock opened at $39.64 on Tuesday. The firm has a fifty day moving average price of $40.49 and a 200 day moving average price of $39.74. CareTrust REIT, Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $43.62. The firm has a market cap of $9.37 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57.

CareTrust REIT (NYSE:CTRE) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) 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 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared 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 of this dividend was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.9%. CareTrust REIT’s dividend payout ratio (DPR) is presently 98.11%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. KeyCorp reiterated an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Mizuho set a $45.00 price objective on CareTrust REIT in a research report on Friday, May 22nd. Finally, Weiss Ratings cut CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.82.

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.