BMO Capital took its CareTrust REIT [CTRE] rating to the equivalent of Outperform from Market Perform, and the price target to $26.0, in a research note dated 2021-01-08. That figure represents around a 18.75% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with KeyBanc Capital Markets’s analysts upgrading the shares from “a Sector weight” rating to “an Overweight” rating in a research note to investors issued in mid December. Meanwhile, Berenberg had raised its rating on CTRE to “Buy” from the earlier “Hold”, in a research note produced for clients December 02, 2020. In addition, there was an upgrade from RBC Capital Mkts on November 11, 2020. The rater changed CTRE from “a Sector perform” to “an Outperform”.
Is CareTrust REIT Inc. [NASDAQ:CTRE] a Good Buy Right Now?
It should be noted that CTRE technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from CareTrust REIT Inc.’s Trend Spotter indicated that the signals were Falling. The stock current average is 0.93 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.75 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.69 million shares.
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CTRE Price Performance
On Wall Street, CareTrust REIT Inc. [NASDAQ:CTRE] finished Thursday’s session down -3.59% at $21.90. The stock went up to $22.84 at the same session while its lowest single day price was $21.66. In the last five days, it saw a fall of about -1.24%, CareTrust REIT Inc. shares dropped by almost -1.28% since the beginning of the year. However, the share price has dropped to as low as -8.12% below its one year high. On 01/06/21, the company shares recorded $22.97, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $21.38. The company’s shares have inclined by 7.54% in the past year. The 50-day SMA achieved is $20.39 while the 200-day SMA is $18.44. Volume dropped to 0.67 million from 1.42 million in the previous session.
CareTrust REIT Inc. [CTRE] Valuation Measures
Notably, CareTrust REIT Inc. [CTRE] stock cannot be classified as a good candidate in the listing of underestimated low-priced REIT – Healthcare Facilities companies to purchase soonest possible with the prevailing 12-month PE ratio of 26.00. The measure means the stock is exchanging at a premium as compared to the 19.03x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 11.74 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 7.40 which means CTRE serve an unattractive investment opportunity compared to its competitors.
CTRE Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 21.42 level, and in case of violation of this particular level, it will cause more drop to 20.95 level. On the upper level, 23.31 is still the key resistance. The stock may increase to the subsequent resistance at 22.60. The Relative Strength Index (RSI) pinned on the 14-day chart is 51.96, implying a neutral technical stance while the MACD stands at -0.24, meaning price will decrease in the next trading period. Percent R indicator moved to 78.98%, implying bearish price movement. Stochastic %K at 34.63% suggest selling the stock.
What is the short interest in CareTrust REIT Inc.?
Short interest in the CareTrust REIT Inc. stock has plunged, decreasing by -0.36 million shares to total 1.92 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.56 million, data from Yahoo Finance shows. The increase of 18.75% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.14% of the overall float for the stock.
CareTrust REIT Inc.’s Biggest Shareholders: Who Owns CareTrust REIT Inc. [CTRE]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 14,853,520 shares or roughly 15.52% of the outstanding CTRE shares. This means their shares have reduced by -153,279 from the 14,853,520 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $273,936,070. Details in the latest 13F filings reveal that SSgA Funds Management, Inc. disposed off their -6.43% stake valued at $92,063,517 while Mellon Investments Corp. cut theirs at $59,360,962. During the last quarter, SSgA Funds Management, Inc. liquidated -325,834 of its shares in CareTrust REIT Inc. while Mellon Investments Corp. sold -28,803 shares. The Invesco Advisers, Inc.’s holdings currently number 2,677,685 shares at $58641301.5. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 2,456,345 shares, roughly $47,726,783.
CTRE Earnings Forecast For The Current Quarter
CareTrust REIT Inc. [CTRE] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $44.26M and an earnings per share of $0.2 for Dec 2020. Looking further ahead, the company is expected to report revenue of $44.97M at an EPS of $0.2 for Mar 2021. The estimates represent upside of 2.80% and -0.74% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CTRE Earnings Estimates For The Current Year
For the financial year, CareTrust REIT Inc. [NASDAQ:CTRE] is expected to bring in revenue of $176.35M. The returns are nearly $12.95 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.81, higher than that of FY19 by $0.33. Estimates put this year’s earnings growth at 68.80%, and at an annual 6.00% over the next 5-year period. As for sales, forecasts are for an increase of 7.90% in the current fiscal year and a further 2.80% over the following year.