CareTrust REIT, Inc. (NYSE:CTRE – Get Free Report) saw a significant 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 volume of 2,063,271 shares, the days-to-cover ratio is currently 3.5 days.
CareTrust REIT Trading Down 1.9%
Shares of CTRE traded down $0.81 during midday trading on Friday, hitting $41.13. The stock had a trading volume of 1,714,496 shares, compared to its average volume of 2,036,452. CareTrust REIT has a 1 year low of $27.81 and a 1 year high of $43.08. The firm has a market cap of $9.72 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock’s 50 day moving average is $39.10 and its 200 day moving average is $37.97.
CareTrust REIT (NYSE:CTRE – Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. CareTrust REIT had a net margin of 64.10% and a return on equity of 8.65%. The business had revenue of $134.86 million for the quarter. As a group, analysts forecast that CareTrust REIT will post 2 EPS for the current fiscal year.
CareTrust REIT Increases Dividend
Institutional Investors Weigh In On CareTrust REIT
Several hedge funds and other institutional investors have recently made changes to their positions in CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 728 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the last quarter. Heritage Wealth Advisors grew its holdings in shares of CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CTRE. Mizuho began coverage on shares of CareTrust REIT in a research note on Thursday, April 2nd. They set an “outperform” rating and a $42.00 price target on the stock. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, January 26th. Wells Fargo & Company upped their price target 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 price target on shares of CareTrust REIT in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of CareTrust REIT from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $42.82.
View Our Latest Research Report on CTRE
About CareTrust REIT
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.
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