Stock Traders Purchase Large Volume of Caretrust REIT Call Options (NASDAQ:CTRE)

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Caretrust REIT Inc (NASDAQ:CTRE) was the target of unusually large options trading on Thursday. Stock traders acquired 2,155 call options on the stock. This represents an increase of approximately 4,912% compared to the typical volume of 43 call options.

NASDAQ CTRE traded up $0.38 during trading hours on Thursday, hitting $15.71. 87,339 shares of the company were exchanged, compared to its average volume of 1,458,452. The stock has a 50-day moving average price of $19.60 and a 200 day moving average price of $21.38. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.60. Caretrust REIT has a 52 week low of $7.16 and a 52 week high of $25.54. The stock has a market cap of $1.42 billion, a PE ratio of 31.35 and a beta of 0.73.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 30th. This is an increase from Caretrust REIT’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.37%. Caretrust REIT’s dividend payout ratio is presently 66.18%.

A number of research analysts have recently commented on the company. Mizuho assumed coverage on Caretrust REIT in a research note on Thursday, December 19th. They issued an “underperform” rating for the company. Wells Fargo & Co lowered their target price on Caretrust REIT from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday. BMO Capital Markets downgraded Caretrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $26.00 to $22.00 in a research report on Tuesday, January 7th. Zacks Investment Research downgraded Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Berenberg Bank downgraded Caretrust REIT from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Friday, February 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $24.13.

Hedge funds have recently modified their holdings of the company. Brookfield Public Securities Group LLC acquired a new stake in Caretrust REIT during the 4th quarter worth about $68,943,000. FMR LLC lifted its stake in Caretrust REIT by 70.5% in the 4th quarter. FMR LLC now owns 5,546,279 shares of the real estate investment trust’s stock valued at $114,420,000 after buying an additional 2,293,115 shares in the last quarter. Norges Bank purchased a new position in Caretrust REIT in the 4th quarter valued at about $26,722,000. Bank of New York Mellon Corp lifted its stake in Caretrust REIT by 40.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,461,019 shares of the real estate investment trust’s stock valued at $71,401,000 after buying an additional 1,001,693 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Caretrust REIT by 66.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,405,697 shares of the real estate investment trust’s stock valued at $29,000,000 after buying an additional 560,572 shares in the last quarter. 93.80% of the stock is currently owned by institutional investors and hedge funds.

About Caretrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

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