CareTrust REIT, Inc. (CTRE) Short Interest Update
CareTrust REIT, Inc. (NASDAQ:CTRE) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,693,296 shares, a growth of 33.8% from the May 31st total of 2,013,156 shares. Based on an average daily volume of 812,825 shares, the days-to-cover ratio is currently 3.3 days. Currently, 3.8% of the shares of the company are short sold.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in CareTrust REIT by 5.6% in the first quarter. Vanguard Group Inc. now owns 10,572,588 shares of the real estate investment trust’s stock valued at $177,831,000 after buying an additional 562,080 shares during the period. BlackRock Inc. increased its stake in CareTrust REIT by 2,476.7% in the first quarter. BlackRock Inc. now owns 9,265,924 shares of the real estate investment trust’s stock valued at $155,855,000 after buying an additional 8,906,314 shares during the period. FMR LLC increased its stake in CareTrust REIT by 1,036.2% in the first quarter. FMR LLC now owns 6,311,699 shares of the real estate investment trust’s stock valued at $106,163,000 after buying an additional 5,756,172 shares during the period. Bank of New York Mellon Corp increased its stake in CareTrust REIT by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 2,452,402 shares of the real estate investment trust’s stock valued at $41,250,000 after buying an additional 113,591 shares during the period. Finally, State Street Corp increased its stake in CareTrust REIT by 11.8% in the first quarter. State Street Corp now owns 1,743,435 shares of the real estate investment trust’s stock valued at $29,323,000 after buying an additional 184,451 shares during the period. 86.92% of the stock is currently owned by institutional investors and hedge funds.
CareTrust REIT (NASDAQ:CTRE) opened at 18.47 on Friday. CareTrust REIT has a 52 week low of $12.70 and a 52 week high of $19.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Wednesday, June 28th.
Several equities research analysts recently issued reports on the stock. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Tuesday, June 20th. BidaskClub upgraded shares of CareTrust REIT from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 15th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $19.00 target price (up previously from $17.00) on shares of CareTrust REIT in a report on Wednesday, May 17th. Zacks Investment Research upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, May 16th. Finally, TheStreet upgraded shares of CareTrust REIT from a “c” rating to a “b” rating in a report on Friday, May 5th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CareTrust REIT has a consensus rating of “Buy” and an average target price of $18.00.
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About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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