CareTrust REIT, Inc. (NASDAQ:CTRE) Short Interest Up 21.7% in April

CareTrust REIT, Inc. (NASDAQ:CTREGet Rating) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,980,000 shares, an increase of 21.7% from the March 31st total of 3,270,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 812,600 shares, the short-interest ratio is currently 4.9 days.

Institutional investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new position in CareTrust REIT in the 4th quarter valued at about $32,000. IFP Advisors Inc raised its holdings in CareTrust REIT by 67.8% in the 4th quarter. IFP Advisors Inc now owns 1,767 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 714 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in CareTrust REIT by 301.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,223 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,669 shares during the last quarter. MBM Wealth Consultants LLC acquired a new stake in CareTrust REIT in the 4th quarter valued at about $54,000. Finally, Penserra Capital Management LLC acquired a new stake in CareTrust REIT in the 3rd quarter valued at about $78,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CareTrust REIT stock opened at $16.28 on Tuesday. The firm has a market capitalization of $1.58 billion, a PE ratio of 22.00 and a beta of 1.20. CareTrust REIT has a twelve month low of $16.01 and a twelve month high of $24.58. The firm’s 50-day moving average price is $17.94 and its 200 day moving average price is $20.02. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74.

CareTrust REIT (NASDAQ:CTREGet Rating) last issued its quarterly earnings results on Tuesday, February 15th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.06). CareTrust REIT had a net margin of 37.42% and a return on equity of 7.81%. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, sell-side analysts predict that CareTrust REIT will post 1.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 6.76%. CareTrust REIT’s dividend payout ratio (DPR) is currently 148.65%.

Several research firms recently issued reports on CTRE. Barclays downgraded CareTrust REIT from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $17.00 in a research report on Monday, April 18th. Raymond James cut their target price on CareTrust REIT from $27.00 to $23.00 and set a “strong-buy” rating on the stock in a research report on Friday, March 18th. StockNews.com began coverage on CareTrust REIT in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a research report on Friday, March 11th. Finally, Credit Suisse Group began coverage on CareTrust REIT in a research report on Tuesday, February 1st. They set a “neutral” rating and a $22.00 price target on the stock. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CareTrust REIT currently has an average rating of “Hold” and a consensus target price of $21.43.

CareTrust REIT Company Profile (Get Rating)

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.

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