CareTrust REIT, Inc. (NASDAQ:CTRE) Expected to Post Quarterly Sales of $49.38 Million

Equities analysts forecast that CareTrust REIT, Inc. (NASDAQ:CTRE) will announce $49.38 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for CareTrust REIT’s earnings. The highest sales estimate is $49.90 million and the lowest is $48.74 million. CareTrust REIT posted sales of $44.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 9th.

According to Zacks, analysts expect that CareTrust REIT will report full-year sales of $192.05 million for the current fiscal year, with estimates ranging from $191.24 million to $192.80 million. For the next financial year, analysts anticipate that the company will post sales of $203.03 million, with estimates ranging from $198.59 million to $210.10 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover CareTrust REIT.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Sunday, November 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. CareTrust REIT had a return on equity of 8.11% and a net margin of 40.04%. During the same period in the previous year, the company earned $0.34 earnings per share.

A number of equities analysts have recently commented on CTRE shares. Zacks Investment Research upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, November 16th. Royal Bank of Canada dropped their price objective on CareTrust REIT from $24.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 18th. Finally, Robert W. Baird started coverage on CareTrust REIT in a research note on Thursday, October 7th. They issued an “outperform” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT has an average rating of “Buy” and a consensus price target of $23.75.

Shares of CareTrust REIT stock traded up $0.09 during trading on Monday, reaching $20.71. The company’s stock had a trading volume of 300,558 shares, compared to its average volume of 582,414. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 0.79. The business’s fifty day moving average price is $20.92 and its 200-day moving average price is $22.29. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 26.90 and a beta of 1.05. CareTrust REIT has a one year low of $19.35 and a one year high of $24.89.

The company also recently declared a quarterly dividend, which was paid on Friday, October 15th. Investors of record on Thursday, September 30th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, September 29th. This represents a $1.06 annualized dividend and a yield of 5.12%. CareTrust REIT’s dividend payout ratio is 137.66%.

A number of institutional investors and hedge funds have recently modified their holdings of CTRE. Eaton Vance Management bought a new position in CareTrust REIT during the first quarter valued at about $27,000. FORA Capital LLC increased its stake in CareTrust REIT by 42.2% during the first quarter. FORA Capital LLC now owns 1,556 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 462 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in CareTrust REIT during the second quarter valued at about $46,000. Penserra Capital Management LLC acquired a new stake in CareTrust REIT during the third quarter valued at approximately $78,000. Finally, Van ECK Associates Corp boosted its holdings in CareTrust REIT by 15.6% during the third quarter. Van ECK Associates Corp now owns 4,500 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 85.14% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.

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

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