Caretrust REIT Inc (NASDAQ:CTRE) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 975,506 shares, a decrease of 5.2% from the February 28th total of 1,028,824 shares. Based on an average trading volume of 680,493 shares, the days-to-cover ratio is currently 1.4 days.
A number of analysts recently issued reports on CTRE shares. Royal Bank of Canada cut Caretrust REIT from an “outperform” rating to a “sector perform” rating and set a $16.00 target price for the company. in a research report on Tuesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research raised Caretrust REIT from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, January 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price objective on shares of Caretrust REIT in a research report on Wednesday, February 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 price objective on shares of Caretrust REIT in a research report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.50.
Caretrust REIT (NASDAQ:CTRE) traded up 0.23% during mid-day trading on Friday, hitting $17.81. The stock had a trading volume of 191,831 shares. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 34.32 and a beta of 0.93. Caretrust REIT has a 12-month low of $12.53 and a 12-month high of $17.86. The company has a 50-day moving average of $16.30 and a 200-day moving average of $15.14.
Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. Caretrust REIT had a net margin of 28.04% and a return on equity of 7.62%. The firm had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $27.36 million. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts anticipate that Caretrust REIT will post $0.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Caretrust REIT’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, March 29th.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Caretrust REIT by 98.9% in the third quarter. Bank of New York Mellon Corp now owns 2,167,755 shares of the real estate investment trust’s stock worth $32,039,000 after buying an additional 1,078,048 shares in the last quarter. Boston Advisors LLC bought a new stake in shares of Caretrust REIT during the third quarter worth approximately $6,224,000. State Street Corp raised its stake in shares of Caretrust REIT by 29.6% in the fourth quarter. State Street Corp now owns 1,558,984 shares of the real estate investment trust’s stock worth $23,883,000 after buying an additional 355,799 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Caretrust REIT by 8.7% in the third quarter. BlackRock Fund Advisors now owns 4,243,893 shares of the real estate investment trust’s stock worth $62,725,000 after buying an additional 339,028 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Caretrust REIT by 10.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,868,986 shares of the real estate investment trust’s stock worth $27,624,000 after buying an additional 172,544 shares during the last quarter. 77.45% of the stock is currently owned by institutional investors.
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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.
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