CareTrust REIT, Inc. (NYSE:CTRE) Short Interest Update

CareTrust REIT, Inc. (NYSE:CTRE) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 7,216,091 shares, a decline of 54.8% from the April 15th total of 15,969,637 shares. Based on an average daily trading volume, of 2,063,271 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.1% of the shares of the stock are sold short.

CareTrust REIT Price Performance

CTRE stock traded down $0.81 during mid-day trading on Friday, hitting $41.13. The company had a trading volume of 1,714,496 shares, compared to its average volume of 2,036,872. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 2.77 and a beta of 0.77. CareTrust REIT has a 12-month low of $27.81 and a 12-month high of $43.08. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $39.10 and a 200 day moving average price of $37.95.

CareTrust REIT (NYSE:CTRE) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $134.86 million for the quarter. CareTrust REIT had a net margin of 64.10% and a return on equity of 8.65%. On average, research analysts anticipate that CareTrust REIT will post 2 earnings per share for the current year.

CareTrust REIT Increases Dividend

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

Institutional Trading of CareTrust REIT

Several hedge funds have recently bought and sold shares of CTRE. Principal Financial Group Inc. raised its position in shares of CareTrust REIT by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock valued at $48,044,000 after buying an additional 93,101 shares in the last quarter. Aberdeen Group plc raised its position in shares of CareTrust REIT by 22.1% during the 3rd quarter. Aberdeen Group plc now owns 84,824 shares of the company’s stock valued at $2,911,000 after buying an additional 15,374 shares in the last quarter. AGF Management Ltd. purchased a new stake in shares of CareTrust REIT during the 3rd quarter valued at about $538,000. Sound Income Strategies LLC raised its position in shares of CareTrust REIT by 6.4% during the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock valued at $23,477,000 after buying an additional 37,503 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of CareTrust REIT by 545.9% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 80,239 shares of the company’s stock valued at $2,783,000 after buying an additional 67,817 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Wells Fargo & Company lifted their target price on shares of CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a research note on Thursday, January 22nd. Citizens Jmp initiated coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 target price on the stock. Finally, Zacks Research cut shares of CareTrust REIT from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $42.82.

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.