Brokerages Anticipate CareTrust REIT, Inc. (NASDAQ:CTRE) Will Announce Quarterly Sales of $48.33 Million

Brokerages expect CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) to report $48.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CareTrust REIT’s earnings. The highest sales estimate is $50.00 million and the lowest is $45.80 million. CareTrust REIT posted sales of $45.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that CareTrust REIT will report full-year sales of $193.91 million for the current year, with estimates ranging from $185.00 million to $198.60 million. For the next fiscal year, analysts anticipate that the company will report sales of $199.40 million, with estimates ranging from $189.40 million to $207.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CareTrust REIT.

CareTrust REIT (NASDAQ:CTRE – Get Rating) last posted its quarterly earnings data on Tuesday, February 15th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). CareTrust REIT had a net margin of 37.42% and a return on equity of 7.81%. During the same period in the previous year, the firm posted $0.36 EPS.

A number of analysts have commented on CTRE shares. Barclays reduced their price target on CareTrust REIT from $26.00 to $22.00 in a research report on Tuesday, February 22nd. Credit Suisse Group began coverage on CareTrust REIT in a research report on Tuesday, February 1st. They issued a “neutral” rating and a $22.00 price target for the company. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a research report on Friday, March 11th. Raymond James cut their target price on CareTrust REIT from $27.00 to $23.00 and set a “strong-buy” rating for the company in a research report on Friday, March 18th. Finally, TheStreet cut CareTrust REIT from a “b” rating to a “c+” rating in a research report on Monday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.14.

CTRE traded down $0.13 during midday trading on Wednesday, reaching $17.52. The company had a trading volume of 653,596 shares, compared to its average volume of 725,873. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average of $18.42 and a two-hundred day moving average of $20.32. The company has a market cap of $1.70 billion, a P/E ratio of 23.68 and a beta of 1.16. CareTrust REIT has a 1 year low of $16.86 and a 1 year high of $24.85.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, March 30th. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 6.28%. CareTrust REIT’s dividend payout ratio is presently 148.65%.

A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its stake in shares of CareTrust REIT by 37.7% in the 1st quarter. First Trust Advisors LP now owns 171,743 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 47,027 shares during the last quarter. Morgan Stanley lifted its stake in shares of CareTrust REIT by 74.4% in the 2nd quarter. Morgan Stanley now owns 720,863 shares of the real estate investment trust’s stock valued at $16,746,000 after purchasing an additional 307,505 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of CareTrust REIT by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 136,427 shares of the real estate investment trust’s stock valued at $2,772,000 after purchasing an additional 971 shares during the last quarter. Meritage Portfolio Management lifted its stake in shares of CareTrust REIT by 30.5% in the 3rd quarter. Meritage Portfolio Management now owns 155,026 shares of the real estate investment trust’s stock valued at $3,150,000 after purchasing an additional 36,212 shares during the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of CareTrust REIT by 17.0% in the 3rd quarter. Westpac Banking Corp now owns 291,811 shares of the real estate investment trust’s stock valued at $5,930,000 after purchasing an additional 42,378 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

CareTrust REIT Company Profile (Get Rating)

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.

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