Short Interest in Caretrust REIT Inc (NASDAQ:CTRE) Drops By 21.7%

Caretrust REIT Inc (NASDAQ:CTRE) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 2,130,000 shares, a drop of 21.7% from the December 31st total of 2,720,000 shares. Based on an average daily volume of 958,900 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.3% of the company’s shares are sold short.

Several research analysts have issued reports on the stock. BMO Capital Markets lowered shares of Caretrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $26.00 to $22.00 in a report on Tuesday, January 7th. BidaskClub upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Zacks Investment Research cut Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Mizuho initiated coverage on Caretrust REIT in a research report on Thursday, December 19th. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Caretrust REIT has a consensus rating of “Hold” and an average price target of $25.43.

Large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its holdings in Caretrust REIT by 37.7% during the 1st quarter. First Trust Advisors LP now owns 171,743 shares of the real estate investment trust’s stock valued at $4,029,000 after acquiring an additional 47,027 shares during the period. Vanguard Group Inc. boosted its holdings in Caretrust REIT by 13.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,976,743 shares of the real estate investment trust’s stock valued at $356,147,000 after acquiring an additional 1,767,795 shares during the period. Bank of America Corp DE lifted its holdings in shares of Caretrust REIT by 15.5% in the 2nd quarter. Bank of America Corp DE now owns 523,831 shares of the real estate investment trust’s stock worth $12,457,000 after buying an additional 70,119 shares during the period. Man Group plc purchased a new stake in shares of Caretrust REIT in the 2nd quarter worth $2,904,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Caretrust REIT in the 2nd quarter worth $36,000. 89.20% of the stock is currently owned by institutional investors and hedge funds.

CTRE traded up $0.08 on Wednesday, hitting $22.10. 65,330 shares of the company’s stock traded hands, compared to its average volume of 882,453. The company’s 50 day simple moving average is $20.84 and its 200-day simple moving average is $22.37. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 47.93 and a beta of 0.60. Caretrust REIT has a one year low of $18.77 and a one year high of $25.54. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.60.

Caretrust REIT (NASDAQ:CTRE) last issued its earnings results on Thursday, November 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.45). The business had revenue of $33.31 million for the quarter, compared to the consensus estimate of $43.64 million. Caretrust REIT had a net margin of 25.85% and a return on equity of 4.76%. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. As a group, equities analysts anticipate that Caretrust REIT will post 1.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Monday, December 30th. Caretrust REIT’s payout ratio is 70.31%.

Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

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