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Held by 496 of 6,047 reporting institutions (97th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
A reverse discounted cash flow is not shown for a REIT.
Depreciation swamps reported earnings for a property owner — which is why FFO exists. EBITDA leverage and a net-income DCF both mislead here.
Classified from the filings: SIC code.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 66% of free cash flow, leaving room to grow it and fund buybacks. Last year: $259.3M dividends + $0 buybacks = $259.3M returned on $394.0M FCF.
2 consecutive years of dividend increases · 8%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 7%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-12
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $476.4M 100.0% | $296.3M 100.0% | $217.8M 100.0% | $196.1M 100.0% | $192.4M 100.0% | $178.3M 100.0% | $163.4M 100.0% | $156.9M 100.0% | $133.0M 100.0% | $104.7M 100.0% |
| Cost of Revenue | — | — | — | — | $0 0.0% | $1.9M 1.0% | $2.9M 1.8% | $3.0M 1.9% | $2.7M 2.1% | $2.5M 2.4% |
| Selling, General & Admin | $52.5M 11.0% | $28.9M 9.8% | $21.8M 10.0% | $20.2M 10.3% | $26.9M 14.0% | $16.3M 9.1% | $15.2M 9.3% | $12.6M 8.0% | $11.1M 8.4% | $9.3M 8.9% |
| Total Operating Expenses | $206.5M 43.3% | $178.1M 60.1% | $159.8M 73.4% | $192.8M 98.3% | $109.5M 56.9% | $97.4M 54.6% | $118.8M 72.7% | $101.1M 64.4% | $110.6M 83.2% | $75.1M 71.7% |
| Interest Expense | $43.7M 9.2% | $30.3M 10.2% | $40.9M 18.8% | $30.0M 15.3% | $23.7M 12.3% | $23.7M 13.3% | $28.1M 17.2% | $27.9M 17.8% | $24.2M 18.2% | $22.9M 21.9% |
| Interest & Investment Income | — | — | — | — | — | $100K 0.1% | $1.3M 0.8% | $200K 0.1% | — | — |
| Other Income (Expense), net | $4.3M 0.9% | $0 0.0% | $0 0.0% | — | — | — | — | — | — | — |
| Pretax Income | $325.3M 68.3% | $124.4M 42.0% | $53.7M 24.7% | — | — | — | — | — | — | — |
| Income Tax Expense | $5.0M 1.0% | $0 0.0% | $0 0.0% | — | — | — | — | — | — | — |
| Net Income | $320.5M 67.3% | $125.1M 42.2% | $53.7M 24.7% | -$7.5M -3.8% | $72.0M 37.4% | $80.9M 45.3% | $46.4M 28.4% | $57.9M 36.9% | $25.9M 19.5% | $29.4M 28.0% |
| Per Share | ||||||||||
| EPS (Basic) | $1.57 | $0.81 | $0.50 | -$0.08 | $0.74 | $0.85 | $0.49 | $0.73 | $0.35 | $0.52 |
| EPS (Diluted) | $1.57 | $0.80 | $0.50 | -$0.08 | $0.74 | $0.85 | $0.49 | $0.72 | $0.35 | $0.52 |
| Weighted Avg Shares (Basic) | 203.6M | 154.8M | 106.0M | 96.7M | 96.0M | 95.2M | 93.1M | 79.4M | 72.6M | 56.0M |
| Weighted Avg Shares (Diluted) | 204.1M | 155.2M | 106.2M | 96.7M | 96.1M | 95.2M | 93.1M | 79.4M | 72.6M | 56.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-12
Where each multiple sits in its own 12-yr range · 80th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 12-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 8% against ROIC 7% — 1% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 9.2% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 1.9 | 1.8 | 1.0 | 0.0 | — | — | — | — |
| SG&A | 8.0 | 9.3 | 9.1 | 14.0 | 10.3 | 10.0 | 9.8 | 11.0 |
| Income Tax | — | — | — | — | — | 0.0 | 0.0 | 1.0 |
| Net Income | 36.9 | 28.4 | 45.3 | 37.4 | -3.8 | 24.7 | 42.2 | 67.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CTRE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Leverage ratios is not shown for a REIT.
Depreciation swamps reported earnings for a property owner — which is why FFO exists. EBITDA leverage and a net-income DCF both mislead here.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $198.0M (at 2025-12-31) covers the $0 due within a year 198042000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Interest is easily covered by operating profit. Effective rate ~4.9% on $894.2M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Ranked against 32 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MAA | $13.5B | 30.8× | — | 6.1× | 0.8% | — | 20.2% | 7.9% | 7.9% | — | 738 |
| OHI | $13.5B | 22.9× | 21.4× | 11.3× | 13.2% | — | 49.6% | 11.4% | 6.3% | 5.1× | 736 |
| REG | $13.2B | — | 11.7× | 8.5× | 6.9% | — | 34.0% | 7.6% | 4.5% | 3.1× | — |
| DOC | $13.1B | 189.5× | — | 4.6× | 4.5% | — | 2.5% | 1.0% | 0.4% | — | 731 |
| ELS | $11.5B | 29.4× | — | 7.5× | 0.3% | — | 26.3% | 22.9% | 7.9% | — | 462 |
| AHR | $11.4B | 125.0× | 18.8× | 5.1× | 9.1% | 20.6% | 3.1% | 2.1% | 2.1% | -0.2× | 545 |
| GLPI | $11.2B | 13.0× | 12.4× | 7.0× | 4.1% | — | 51.7% | 17.8% | 7.0% | 4.8× | 606 |
| UDR | $11.0B | 30.2× | 13.6× | 6.4× | 2.4% | — | 22.1% | 11.5% | 4.1% | 4.7× | 510 |
| EGP | $10.6B | 40.5× | — | 14.7× | 12.7% | — | 35.7% | 7.4% | 7.4% | — | 526 |
| BXP | $9.5B | 34.2× | — | 2.7× | 2.2% | 59.1% | 7.9% | 5.4% | 5.4% | — | 538 |
| FRT | $9.2B | 22.7× | — | 7.2× | 6.4% | — | 32.1% | 12.7% | 5.0% | — | 598 |
| CTRE | $8.7B | 23.3× | — | 18.2× | 60.8% | — | 67.3% | 7.9% | 6.5% | — | 496 |
| CUBE | $8.6B | 26.0× | — | 7.6× | 5.3% | 68.7% | 29.5% | 12.2% | 12.2% | — | 497 |
| BRX | $8.4B | 21.9× | — | 6.1× | 6.7% | — | 28.2% | 12.8% | 4.5% | — | 461 |
| RHP | $8.3B | 31.9× | 10.4× | 3.2× | 10.2% | 44.1% | 9.4% | 32.5% | 32.5% | -0.6× | 417 |
| ADC | $8.2B | 37.4× | — | 11.5× | 16.4% | — | 28.4% | 3.3% | 3.3% | — | 478 |
| REXR | $8.2B | 42.7× | — | 8.2× | 7.1% | — | 21.1% | 2.5% | 1.8% | — | 409 |
| FR | $8.0B | 32.1× | 17.3× | 10.9× | 8.6% | — | 34.0% | 9.3% | 9.3% | -0.2× | 470 |
| LINE | $7.8B | — | 13.0× | 1.5× | 0.3% | 32.1% | -1.9% | -1.2% | -0.7% | 5.7× | 323 |
| NNN | $7.7B | 19.6× | 9.0× | 8.3× | 6.6% | — | 42.1% | 8.8% | 8.8% | -0.0× | 584 |
| VNO | $6.3B | 8.0× | — | 3.5× | 1.3% | — | 50.0% | 15.1% | 11.0% | — | 423 |
| RYN | $5.7B | 6.3× | — | 11.8× | -51.0% | 32.5% | 97.9% | 21.5% | 14.6% | — | 444 |
| EPRT | $5.6B | 20.1× | 15.9× | 9.9× | 24.8% | — | 45.1% | 6.0% | 3.8% | 4.9× | 365 |
| OUT | $5.3B | 36.6× | 20.2× | 2.9× | 0.0% | — | 8.0% | 20.7% | 4.5% | 6.5× | 358 |
| SBRA | $4.8B | 29.6× | 22.1× | 6.3× | 10.2% | — | 20.1% | 5.5% | 2.9% | 7.4× | 453 |
Peers = companies sharing CTRE's sector (Real Estate Investment Trusts) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 97.6% | not reported | 28.0% |
| FY2017 | 97.9% | not reported | 19.5% |
| FY2018 | 98.1% | not reported | 36.9% |
| FY2019 | 98.2% | not reported | 28.4% |
| FY2020 | 99.0% | not reported | 45.3% |
| FY2021 | 100.0% | not reported | 37.4% |
| FY2022 | not reported | not reported | -3.8% |
| FY2023 | not reported | 24.7% | 24.7% |
| FY2024 | not reported | 42.0% | 42.2% |
| FY2025 | not reported | 67.4% | 67.3% |
Return on equity (8%) and return on invested capital (7%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: wacc.
Cash conversion is 2.01x, but receivables have outgrown revenue 2 years running.
Receivables have outgrown revenue for 2 years running — sales are being booked faster than the money arrives, which reaches the cash flow statement a year or more after it shows up here.
Leverage is not measurable this way for a reit.
Ladder as of 2026-06-30 (10-Q); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Depreciation swamps reported earnings for a property owner — which is why FFO exists. EBITDA leverage and a net-income DCF both mislead here.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $36.64, free cash flow must compound 15.47%/yr for 10 years. It has done 21.36%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 18.1% | 15.5% |
| FY2021 | 7.6% | 15.5% |
| FY2022 | −7.9% | 15.5% |
| FY2023 | 7.2% | 15.5% |
| FY2024 | 57.8% | 15.5% |
| FY2025 | 61.3% | 15.5% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $321M | $321M |
| Share-based comp | $12M | $332M |
| Other non-cash & working capital | $62M | $394M |
| Operating cash flow | $394M | $394M |
| Capex | $0 | $394M |
| Free cash flow | $394M | $394M |
| FCF after SBC | $382M | $382M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 9.1% | -29.1% | -38.2 points |
| FY2021 | 7.9% | 32.6% | 24.8 points |
| FY2022 | 2.0% | -82.8% | -84.8 points |
| FY2023 | 11.0% | -5.0% | -16.1 points |
| FY2024 | 36.0% | 197.2% | 161.2 points |
| FY2025 | 60.8% | 783.1% | 722.3 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 5.7 days | not reported | not reported | not reported |
| FY2020 | 3.7 days | not reported | not reported | not reported |
| FY2021 | 4.6 days | not reported | not reported | not reported |
| FY2022 | 0.8 days | not reported | not reported | not reported |
| FY2023 | 0.7 days | not reported | not reported | not reported |
| FY2024 | 1.4 days | not reported | not reported | not reported |
| FY2025 | 7.9 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -5.3 percent |
| FY2020 | -4.3 percent |
| FY2021 | -5.2 percent |
| FY2022 | -9.4 percent |
| FY2023 | -4.8 percent |
| FY2024 | -3.5 percent |
| FY2025 | -1.4 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.