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.

Recommended Story: What is the significance of a dead cat bounce?

Get a free copy of the Zacks research report on CareTrust REIT (CTRE)

For more information about research offerings from Zacks Investment Research, visit

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

Receive News & Ratings for CareTrust REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CareTrust REIT and related companies with's FREE daily email newsletter.