CareTrust REIT, Inc. (NYSE:CTRE) Short Interest Up 187.0% in May

CareTrust REIT, Inc. (NYSE:CTRE) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 20,517,458 shares, an increase of 187.0% from the May 14th total of 7,148,122 shares. Based on an average daily volume of 2,863,125 shares, the days-to-cover ratio is currently 7.2 days. Currently, 8.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On CareTrust REIT

Large investors have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new stake in CareTrust REIT in the 4th quarter valued at about $27,000. Transamerica Financial Advisors LLC lifted its holdings in CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after purchasing an additional 644 shares in the last quarter. Heritage Wealth Advisors lifted its holdings in CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

NYSE CTRE traded up $0.01 during trading hours on Friday, reaching $36.76. The company’s stock had a trading volume of 4,050,456 shares, compared to its average volume of 2,658,839. The stock has a market cap of $8.68 billion, a PE ratio of 23.56, a PEG ratio of 1.67 and a beta of 0.76. CareTrust REIT has a fifty-two week low of $27.81 and a fifty-two week high of $43.08. The company’s 50-day moving average is $39.48 and its two-hundred day moving average is $38.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of recent analyst reports. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Cantor Fitzgerald upped their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $44.09.

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.