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

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

CareTrust REIT Trading Down 1.9%

NYSE:CTRE traded down $0.81 during mid-day trading on Friday, hitting $41.13. 1,714,496 shares of the stock traded hands, compared to its average volume of 2,036,872. 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 stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.77 and a beta of 0.77. The firm’s 50 day moving average is $39.10 and its two-hundred day moving average is $37.95. CareTrust REIT has a 52 week low of $27.81 and a 52 week high of $43.08.

CareTrust REIT (NYSE:CTRE) last issued its earnings results on Thursday, February 12th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that CareTrust REIT will post 2 earnings per share for the current year.

CareTrust REIT Increases Dividend

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

Hedge Funds Weigh In On CareTrust REIT

Hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT in the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC grew its stake in CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after acquiring an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 644 shares in the last quarter. Heritage Wealth Advisors grew its stake in CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Finally, Allworth Financial LP grew its stake in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after acquiring an additional 555 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a report on Thursday, January 22nd. Mizuho assumed coverage on shares of CareTrust REIT in a report on Thursday, April 2nd. They set an “outperform” rating and a $42.00 price target on the stock. Cantor Fitzgerald upped their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Citizens Jmp assumed coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target on the stock. Finally, Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.