Short Interest in CareTrust REIT, Inc. (NYSE:CTRE) Drops By 37.7%

CareTrust REIT, Inc. (NYSE:CTRE) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 15,432,408 shares, a decline of 37.7% from the August 15th total of 24,756,021 shares. Based on an average daily trading volume, of 2,472,030 shares, the days-to-cover ratio is currently 6.2 days. Currently, 6.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTRE. Mizuho set a $45.00 price target on CareTrust REIT in a report on Friday, May 22nd. Cantor Fitzgerald lifted their target price on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Raymond James Financial began coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on shares of CareTrust REIT from $47.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC lifted its holdings in shares of CareTrust REIT by 4.3% in the 2nd quarter. Anchor Investment Management LLC now owns 7,260 shares of the company’s stock valued at $293,000 after buying an additional 297 shares during the period. Tidal Investments LLC grew its holdings in CareTrust REIT by 365.9% during the second quarter. Tidal Investments LLC now owns 85,678 shares of the company’s stock worth $3,457,000 after acquiring an additional 67,290 shares during the period. WINTON GROUP Ltd purchased a new position in CareTrust REIT during the second quarter valued at approximately $751,000. Engineers Gate Manager LP purchased a new position in CareTrust REIT during the second quarter valued at approximately $246,000. Finally, Integrated Wealth Concepts LLC lifted its holdings in CareTrust REIT by 8.3% in the second quarter. Integrated Wealth Concepts LLC now owns 9,196 shares of the company’s stock valued at $371,000 after acquiring an additional 705 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of CTRE stock traded down $0.66 during mid-day trading on Friday, reaching $37.51. The stock had a trading volume of 792,850 shares, compared to its average volume of 2,520,941. CareTrust REIT has a 1-year low of $32.79 and a 1-year high of $43.62. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.50 and a beta of 0.76. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $40.27 and its 200-day moving average is $39.65.

CareTrust REIT (NYSE:CTRE) last released its earnings results on Thursday, August 6th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%.The firm had revenue of $161.35 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. On average, research analysts forecast that CareTrust REIT will post 2.04 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.2%. CareTrust REIT’s dividend payout ratio is presently 98.11%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that owns and manages a portfolio of healthcare-related properties across the United States. The company primarily invests in properties that are leased to healthcare operators under long-term, typically triple-net lease agreements.

CareTrust’s portfolio includes skilled nursing facilities, assisted living facilities, independent living communities, memory care properties and other healthcare-related real estate. Its tenants are responsible for operating the facilities and generally cover property-level expenses such as taxes, insurance and maintenance under the terms of the leases.

CareTrust was established in 2014 through a separation from The Ensign Group, a healthcare services company.