CareTrust REIT, Inc. (NYSE:CTRE) Short Interest Down 37.7% in August

CareTrust REIT, Inc. (NYSE:CTRE) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 15,432,408 shares, a decrease of 37.7% from the August 15th total of 24,756,021 shares. Based on an average daily volume of 2,472,030 shares, the short-interest ratio is presently 6.2 days. Currently, 6.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in CareTrust REIT in the 2nd quarter worth $1,643,290,000. Geode Capital Management LLC lifted its holdings in shares of CareTrust REIT by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after purchasing an additional 409,411 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of CareTrust REIT during the second quarter worth about $143,963,000. Dimensional Fund Advisors LP grew its holdings in shares of CareTrust REIT by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,333,252 shares of the company’s stock worth $122,164,000 after buying an additional 61,417 shares in the last quarter. Finally, Norges Bank acquired a new stake in CareTrust REIT in the 4th quarter valued at approximately $114,810,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Up 0.5%

CareTrust REIT stock traded up $0.18 during midday trading on Thursday, hitting $38.16. 1,622,989 shares of the stock were exchanged, compared to its average volume of 2,530,516. The company has a fifty day simple moving average of $40.27 and a two-hundred day simple moving average of $39.65. CareTrust REIT has a 52 week low of $32.79 and a 52 week high of $43.62. The stock has a market capitalization of $9.02 billion, a PE ratio of 24.00, a P/E/G ratio of 1.52 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.27.

CareTrust REIT (NYSE:CTRE) last issued its earnings results on Thursday, August 6th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $161.35 million during the quarter. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. Equities research analysts anticipate that CareTrust REIT will post 2.04 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 30th. CareTrust REIT’s dividend payout ratio is presently 98.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of CareTrust REIT from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Raymond James Financial started coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective on the stock. Huntington began coverage on shares of CareTrust REIT in a research note on Thursday, September 10th. They issued an “outperform” rating and a $44.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $44.50.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns and manages a portfolio of healthcare-related properties across the United States. The company primarily invests in properties that are leased to healthcare operators under long-term, typically triple-net lease agreements.

CareTrust’s portfolio includes skilled nursing facilities, assisted living facilities, independent living communities, memory care properties and other healthcare-related real estate. Its tenants are responsible for operating the facilities and generally cover property-level expenses such as taxes, insurance and maintenance under the terms of the leases.

CareTrust was established in 2014 through a separation from The Ensign Group, a healthcare services company.