Caretrust REIT Inc (NASDAQ:CTRE) was the recipient of a large 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. Based on an average daily trading volume, of 811,549 shares, the days-to-cover ratio is presently 4.3 days. Approximately 4.6% of the company’s shares are short sold.
Several research analysts have recently weighed in on the company. ValuEngine lowered Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Stephens set a $19.00 price objective on Caretrust REIT and gave the stock a “buy” rating in a research report on Friday, January 12th. Wells Fargo & Co raised Caretrust REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Tuesday, December 19th. Finally, BidaskClub lowered Caretrust REIT from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Caretrust REIT has an average rating of “Hold” and an average target price of $19.78.
Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position 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 buying an additional 975 shares in the last quarter. Gilman Hill Asset Management LLC bought a new stake in Caretrust REIT in the 4th quarter valued at about $191,000. Amalgamated Bank bought a new stake in Caretrust REIT in the 3rd quarter valued at about $197,000. Janus Henderson Group PLC bought a new stake in Caretrust REIT in the 3rd quarter valued at about $197,000. Finally, Ramsey Quantitative Systems bought a new stake in Caretrust REIT in the 4th quarter valued at about $215,000. 89.87% of the stock is owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Thursday, December 28th. Caretrust REIT’s payout ratio is 157.45%.
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.
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.