Q3 2024 EPS Estimates for CareTrust REIT, Inc. Raised by Wedbush (NASDAQ:CTRE)

CareTrust REIT, Inc. (NASDAQ:CTRE) – Research analysts at Wedbush upped their Q3 2024 earnings per share estimates for shares of CareTrust REIT in a research note issued to investors on Thursday, August 8th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $0.38 per share for the quarter, up from their prior estimate of $0.36. Wedbush currently has a “Neutral” rating and a $26.00 target price on the stock. The consensus estimate for CareTrust REIT’s current full-year earnings is $1.47 per share. Wedbush also issued estimates for CareTrust REIT’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.45 EPS and FY2025 earnings at $1.58 EPS.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. The company had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. During the same period last year, the company posted $0.35 EPS.

A number of other analysts have also weighed in on CTRE. Deutsche Bank Aktiengesellschaft increased their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. KeyCorp increased their price objective on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, Wells Fargo & Company boosted their target price on CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $25.29.

CareTrust REIT Trading Up 0.3 %

Shares of CTRE opened at $27.89 on Monday. The firm has a fifty day simple moving average of $26.11 and a two-hundred day simple moving average of $24.59. CareTrust REIT has a twelve month low of $19.43 and a twelve month high of $27.99. The stock has a market capitalization of $3.96 billion, a P/E ratio of 53.63 and a beta of 1.09. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36.

Institutional Trading of CareTrust REIT

A number of hedge funds have recently modified their holdings of CTRE. Mackenzie Financial Corp lifted its position in CareTrust REIT by 3.1% during the 4th quarter. Mackenzie Financial Corp now owns 16,317 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 484 shares during the period. United Services Automobile Association boosted its position in shares of CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 540 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of CareTrust REIT by 5.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 624 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in CareTrust REIT by 4.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 895 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in CareTrust REIT by 2.2% during the fourth quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust’s stock valued at $929,000 after buying an additional 910 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 4.16%. CareTrust REIT’s dividend payout ratio (DPR) is 223.08%.

About CareTrust REIT

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.