$48.49 Million in Sales Expected for CareTrust REIT, Inc. (NASDAQ:CTRE) This Quarter

Wall Street brokerages expect that CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) will post sales of $48.49 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for CareTrust REIT’s earnings, with the highest sales estimate coming in at $49.46 million and the lowest estimate coming in at $46.90 million. CareTrust REIT reported sales of $48.26 million during the same quarter last year, which indicates a positive year over year growth rate of 0.5%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that CareTrust REIT will report full year sales of $194.98 million for the current year, with estimates ranging from $188.20 million to $198.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $200.63 million, with estimates ranging from $193.10 million to $207.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover CareTrust REIT.

CTRE has been the topic of several analyst reports. Zacks Investment Research raised CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 10th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a research note on Friday, March 11th. Credit Suisse Group began coverage on CareTrust REIT in a research report on Tuesday, February 1st. They set a “neutral” rating and a $22.00 target price for the company. StockNews.com began coverage on CareTrust REIT in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TheStreet cut CareTrust REIT from a “b” rating to a “c+” rating in a report on Monday, February 14th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of “Hold” and an average price target of $21.43.

A number of hedge funds have recently added to or reduced their stakes in CTRE. abrdn plc increased its holdings in shares of CareTrust REIT by 3.2% during the 1st quarter. abrdn plc now owns 21,413 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 674 shares during the last quarter. IFP Advisors Inc increased its stake in CareTrust REIT by 67.8% in the fourth quarter. IFP Advisors Inc now owns 1,767 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 714 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of CareTrust REIT by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 13,982 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 725 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in CareTrust REIT by 2.3% during the third quarter. Allianz Asset Management GmbH now owns 34,655 shares of the real estate investment trust’s stock worth $704,000 after buying an additional 766 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its holdings in shares of CareTrust REIT by 4.4% in the third quarter. Vident Investment Advisory LLC now owns 18,342 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 769 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Shares of CTRE opened at $18.00 on Wednesday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 225.00 and a beta of 1.20. The business has a 50-day moving average of $17.81 and a 200-day moving average of $19.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 0.88. CareTrust REIT has a 1 year low of $15.90 and a 1 year high of $24.58.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were paid a dividend of $0.275 per share. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 6.11%. The ex-dividend date was Wednesday, March 30th. CareTrust REIT’s dividend payout ratio is presently 1,375.00%.

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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