Caretrust REIT Inc (NASDAQ:CTRE) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,449,629 shares, a growth of 59.5% from the January 12th total of 2,163,047 shares. Approximately 4.6% of the shares of the company are short sold. Based on an average trading volume of 811,549 shares, the days-to-cover ratio is currently 4.3 days.
A number of research analysts have issued reports on CTRE shares. Stephens set a $19.00 price target on Caretrust REIT and gave the company a “buy” rating in a report on Friday, January 12th. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price target (up from $17.00) on shares of Caretrust REIT in a report on Thursday, November 9th. ValuEngine downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised Caretrust REIT from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, October 24th. Finally, BidaskClub downgraded Caretrust REIT from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Caretrust REIT currently has an average rating of “Hold” and a consensus target price of $19.78.
Shares of Caretrust REIT (NASDAQ CTRE) traded up $0.34 during mid-day trading on Friday, hitting $15.04. The stock had a trading volume of 1,418,787 shares, compared to its average volume of 783,523. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.81. The firm has a market cap of $1,130.00, a P/E ratio of 32.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. Caretrust REIT has a twelve month low of $14.69 and a twelve month high of $19.86.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Thursday, December 28th. Caretrust REIT’s payout ratio is 160.87%.
Several hedge funds have recently made changes to their positions in the company. Navellier & Associates Inc raised its stake in shares of Caretrust REIT by 1.0% during the 2nd quarter. Navellier & Associates Inc now owns 41,831 shares of the real estate investment trust’s stock worth $776,000 after buying an additional 421 shares during the period. Ameritas Investment Partners Inc. raised its stake in Caretrust REIT by 18.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,329 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 975 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Caretrust REIT by 3.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,700 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 1,000 shares during the last quarter. California State Teachers Retirement System raised its stake in Caretrust REIT by 1.3% in the 2nd quarter. California State Teachers Retirement System now owns 127,759 shares of the real estate investment trust’s stock valued at $2,369,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Caretrust REIT by 17.1% in the 2nd quarter. Profund Advisors LLC now owns 13,560 shares of the real estate investment trust’s stock valued at $251,000 after purchasing an additional 1,976 shares during the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Caretrust REIT Inc (CTRE) Short Interest Up 59.5% in January” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2018/02/09/caretrust-reit-inc-ctre-short-interest-up-59-5-in-january.html.
Caretrust REIT Company Profile
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.
Receive News & Ratings for Caretrust REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caretrust REIT and related companies with MarketBeat.com's FREE daily email newsletter.