Equities research analysts predict that CareTrust REIT, Inc. (NASDAQ:CTRE) will announce sales of $44.70 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for CareTrust REIT's earnings. The lowest sales estimate is $43.74 million and the highest is $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 company is scheduled 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 fiscal year, with estimates ranging from $175.10 million to $186.10 million. For the next financial year, analysts forecast that the business will post sales of $187.25 million, with estimates ranging from $178.24 million to $203.40 million. Zacks' sales calculations are a mean average based on a survey of analysts that that provide coverage for CareTrust REIT.
CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Tuesday, February 9th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate 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 have recently weighed in on the stock. BMO Capital Markets upgraded shares of CareTrust REIT from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $25.00 to $26.00 in a research note on Thursday, January 7th. Zacks Investment Research upgraded CareTrust REIT from a "sell" rating to a "hold" rating in a research note on Thursday, March 4th. KeyCorp raised CareTrust REIT from a "sector weight" rating to an "overweight" rating and set a $24.00 price target for the company in a report on Monday, December 14th. Raymond James reissued a "buy" rating and issued a $25.00 price objective on shares of CareTrust REIT in a research report on Friday, March 5th. Finally, Barclays upped their price target on shares of CareTrust REIT from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, January 19th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of "Buy" and an average target price of $23.11.
NASDAQ CTRE opened at $24.22 on Thursday. CareTrust REIT has a 12 month low of $14.87 and a 12 month high of $24.89. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $23.25 and a 200-day moving average of $21.20. The company has a market cap of $2.33 billion, a PE ratio of 28.49 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.38%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 30th. CareTrust REIT's payout ratio is presently 77.94%.
Several hedge funds have recently modified their holdings of CTRE. First Trust Advisors LP raised its holdings in CareTrust REIT by 37.7% in the 1st quarter. First Trust Advisors LP now owns 171,743 shares of the real estate investment trust's stock valued at $4,029,000 after acquiring an additional 47,027 shares in the last quarter. Sei Investments Co. raised its stake in CareTrust REIT by 14.6% in the third quarter. Sei Investments Co. now owns 14,689 shares of the real estate investment trust's stock valued at $261,000 after purchasing an additional 1,867 shares in the last quarter. LPL Financial LLC raised its stake in CareTrust REIT by 21.7% in the third quarter. LPL Financial LLC now owns 15,994 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 2,854 shares in the last quarter. Federated Hermes Inc. lifted its position in CareTrust REIT by 45.7% during the third quarter. Federated Hermes Inc. now owns 44,252 shares of the real estate investment trust's stock worth $787,000 after purchasing an additional 13,874 shares during the period. Finally, Guggenheim Capital LLC grew its stake in CareTrust REIT by 22.5% during the third quarter. Guggenheim Capital LLC now owns 112,632 shares of the real estate investment trust's stock worth $2,004,000 after buying an additional 20,700 shares in the last quarter. Institutional investors and hedge funds own 87.55% of the company's stock.
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.
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