CareTrust REIT, Inc. (NYSE:CTRE) Short Interest Up 187.0% in May

CareTrust REIT, Inc. (NYSE:CTRE) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 20,517,458 shares, an increase of 187.0% from the May 14th total of 7,148,122 shares. Based on an average daily volume of 2,863,125 shares, the short-interest ratio is presently 7.2 days. Approximately 8.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On CareTrust REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of CTRE. Kemnay Advisory Services Inc. bought a new stake in CareTrust REIT during the 4th quarter worth $27,000. Transamerica Financial Advisors LLC grew its position in CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after acquiring an additional 728 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after acquiring an additional 644 shares during the last quarter. Heritage Wealth Advisors grew its position in CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Finally, Allworth Financial LP grew its position in CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after acquiring an additional 555 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTRE. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings lowered CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a research note on Tuesday, May 26th. UBS Group lifted their price target on CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. KeyCorp reiterated an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, CareTrust REIT has a consensus rating of “Buy” and a consensus price target of $44.09.

CareTrust REIT Price Performance

CTRE stock traded down $0.13 during midday trading on Friday, reaching $36.62. 1,143,695 shares of the stock were exchanged, compared to its average volume of 2,510,240. The stock has a market capitalization of $8.65 billion, a PE ratio of 23.46, a P/E/G ratio of 1.71 and a beta of 0.76. CareTrust REIT has a 52 week low of $27.81 and a 52 week high of $43.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The company has a fifty day moving average price of $39.49 and a 200 day moving average price of $38.49.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.