Brokerages Expect CareTrust REIT, Inc. (NASDAQ:CTRE) Will Post Quarterly Sales of $44.70 Million


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Wall Street brokerages expect CareTrust REIT, Inc. (NASDAQ:CTRE) to report $44.70 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for CareTrust REIT’s earnings, with the lowest sales estimate coming in at $43.74 million and the highest estimate coming in at $45.50 million. CareTrust REIT posted sales of $44.34 million during the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The business is expected to report its next quarterly earnings report on Thursday, May 6th.

On average, analysts expect that CareTrust REIT will report full-year sales of $180.60 million for the current year, with estimates ranging from $175.10 million to $186.10 million. For the next fiscal year, analysts expect that the firm will report sales of $187.25 million, with estimates ranging from $178.24 million to $203.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover CareTrust REIT.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, February 9th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.14). CareTrust REIT had a net margin of 45.10% and a return on equity of 8.74%.

Several research analysts recently weighed in on the stock. Raymond James restated a “buy” rating and set a $25.00 price target on shares of CareTrust REIT in a research report on Friday, March 5th. Mizuho increased their target price on CareTrust REIT from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, January 13th. KeyCorp upgraded CareTrust REIT from a “sector weight” rating to an “overweight” rating and set a $24.00 target price on the stock in a research report on Monday, December 14th. Barclays boosted their price target on CareTrust REIT from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. Finally, BMO Capital Markets upgraded CareTrust REIT from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $25.00 to $26.00 in a report on Thursday, January 7th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.11.

CTRE opened at $24.22 on Thursday. The firm’s fifty day simple moving average is $23.25 and its two-hundred day simple moving average is $21.20. CareTrust REIT has a 52-week low of $14.87 and a 52-week high of $24.89. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 28.49 and a beta of 1.11. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.54.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be issued a $0.265 dividend. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.38%. The ex-dividend date is Tuesday, March 30th. CareTrust REIT’s dividend payout ratio is presently 77.94%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of CareTrust REIT in the fourth quarter valued at about $28,573,000. BlackRock Inc. boosted its holdings in CareTrust REIT by 4.2% in the 4th quarter. BlackRock Inc. now owns 18,968,869 shares of the real estate investment trust’s stock valued at $420,729,000 after purchasing an additional 757,739 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of CareTrust REIT in the 4th quarter valued at approximately $13,006,000. Hillcrest Asset Management LLC acquired a new stake in shares of CareTrust REIT during the 4th quarter worth approximately $10,813,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of CareTrust REIT by 1,426.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 401,581 shares of the real estate investment trust’s stock valued at $8,907,000 after buying an additional 375,273 shares during the period. Institutional investors and hedge funds own 87.55% of the company’s stock.

CareTrust REIT Company Profile

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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Earnings History and Estimates for CareTrust REIT (NASDAQ:CTRE)

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