Caretrust REIT Sees Unusually Large Options Volume (NASDAQ:CTRE)

Caretrust REIT Inc (NASDAQ:CTRE) saw unusually large options trading on Thursday. Stock investors purchased 2,155 call options on the company. This represents an increase of approximately 4,912% compared to the average volume of 43 call options.

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Caretrust REIT during the fourth quarter valued at approximately $26,722,000. Geode Capital Management LLC lifted its holdings in shares of Caretrust REIT by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 1,336,066 shares of the real estate investment trust’s stock valued at $27,563,000 after purchasing an additional 62,884 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in shares of Caretrust REIT by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 33,283 shares of the real estate investment trust’s stock valued at $687,000 after purchasing an additional 836 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Caretrust REIT by 0.3% during the fourth quarter. Alliancebernstein L.P. now owns 277,896 shares of the real estate investment trust’s stock valued at $5,733,000 after purchasing an additional 950 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Caretrust REIT by 7.5% during the fourth quarter. Janus Henderson Group PLC now owns 38,573 shares of the real estate investment trust’s stock valued at $796,000 after purchasing an additional 2,685 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Shares of CTRE opened at $15.68 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.53 and a quick ratio of 1.53. Caretrust REIT has a one year low of $7.16 and a one year high of $25.54. The company has a 50-day simple moving average of $19.60 and a two-hundred day simple moving average of $21.38. The firm has a market capitalization of $1.42 billion, a PE ratio of 31.36 and a beta of 0.73.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.38%. This is a positive change from Caretrust REIT’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 30th. Caretrust REIT’s dividend payout ratio (DPR) is presently 66.18%.

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

Caretrust REIT Company Profile

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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