FY2022 Earnings Forecast for CareTrust REIT, Inc. Issued By KeyCorp (NASDAQ:CTRE)

CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) – Analysts at KeyCorp dropped their FY2022 earnings per share estimates for shares of CareTrust REIT in a research note issued to investors on Tuesday, April 26th. KeyCorp analyst A. Wurschmidt now anticipates that the real estate investment trust will earn $1.47 per share for the year, down from their prior estimate of $1.61. KeyCorp also issued estimates for CareTrust REIT’s FY2023 earnings at $1.53 EPS.

CareTrust REIT (NASDAQ:CTRE – Get Rating) last issued its earnings results on Tuesday, February 15th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarter in the previous year, the company posted $0.36 earnings per share.

Several other analysts also recently weighed in on CTRE. Zacks Investment Research raised shares of CareTrust REIT from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group assumed coverage on shares of CareTrust REIT in a report on Tuesday, February 1st. They issued a “neutral” rating and a $22.00 target price on the stock. Barclays downgraded shares of CareTrust REIT from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $17.00 in a report on Monday, April 18th. TheStreet downgraded shares of CareTrust REIT from a “b” rating to a “c+” rating in a report on Monday, February 14th. Finally, StockNews.com began coverage on shares of CareTrust REIT in a report on Thursday, March 31st. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.43.

Shares of NASDAQ:CTRE opened at $16.26 on Thursday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 21.97 and a beta of 1.16. The firm’s 50-day simple moving average is $18.03 and its 200-day simple moving average is $20.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. CareTrust REIT has a fifty-two week low of $16.25 and a fifty-two week high of $24.67.

Several hedge funds and other institutional investors have recently made changes to their positions in CTRE. First Trust Advisors LP lifted its holdings in shares of CareTrust REIT by 37.7% in the first 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 in the last quarter. Morgan Stanley raised its position in shares of CareTrust REIT by 74.4% in the second quarter. Morgan Stanley now owns 720,863 shares of the real estate investment trust’s stock valued at $16,746,000 after buying an additional 307,505 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of CareTrust REIT by 1.6% in the third quarter. Victory Capital Management Inc. now owns 908,383 shares of the real estate investment trust’s stock valued at $18,458,000 after buying an additional 14,520 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of CareTrust REIT by 5.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,626 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 1,138 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of CareTrust REIT by 65.1% in the third quarter. Raymond James & Associates now owns 993,135 shares of the real estate investment trust’s stock valued at $20,180,000 after buying an additional 391,708 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.77%. The ex-dividend date was Wednesday, March 30th. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.27. CareTrust REIT’s dividend payout ratio is 148.65%.

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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