Equities research analysts predict that CareTrust REIT, Inc. (NASDAQ:CTRE) will report sales of $48.65 million for the current quarter, Zacks reports. Two analysts have made estimates for CareTrust REIT's earnings, with the lowest sales estimate coming in at $48.40 million and the highest estimate coming in at $48.90 million. CareTrust REIT posted sales of $45.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The company is expected to announce its next quarterly earnings results on Thursday, November 4th.
According to Zacks, analysts expect that CareTrust REIT will report full year sales of $192.10 million for the current year, with estimates ranging from $191.40 million to $192.80 million. For the next fiscal year, analysts anticipate that the company will post sales of $204.20 million, with estimates ranging from $198.30 million to $210.10 million. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that follow CareTrust REIT.
CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.37 by ($0.15). CareTrust REIT had a net margin of 45.92% and a return on equity of 9.16%.
A number of research firms have recently weighed in on CTRE. Royal Bank of Canada downgraded shares of CareTrust REIT from an "outperform" rating to a "sector perform" rating in a report on Wednesday, August 11th. Zacks Investment Research downgraded shares of CareTrust REIT from a "hold" rating to a "sell" rating in a report on Wednesday, September 8th. Finally, Robert W. Baird began coverage on shares of CareTrust REIT in a report on Thursday, October 7th. They issued an "outperform" rating and a $23.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $24.63.
CareTrust REIT stock opened at $21.03 on Friday. The company has a market capitalization of $2.04 billion, a P/E ratio of 23.90 and a beta of 1.08. The firm's fifty day simple moving average is $21.53 and its 200-day simple moving average is $22.89. The company has a current ratio of 18.61, a quick ratio of 18.61 and a debt-to-equity ratio of 1.01. CareTrust REIT has a 1-year low of $16.61 and a 1-year high of $24.89.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be given a $0.265 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $1.06 dividend on an annualized basis and a yield of 5.04%. CareTrust REIT's dividend payout ratio (DPR) is presently 76.81%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in shares of CareTrust REIT by 5.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 107,320 shares of the real estate investment trust's stock worth $2,492,000 after purchasing an additional 5,473 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in CareTrust REIT by 35.7% during the first quarter. UBS Asset Management Americas Inc. now owns 551,843 shares of the real estate investment trust's stock worth $12,850,000 after acquiring an additional 145,300 shares in the last quarter. BlackRock Inc. lifted its holdings in CareTrust REIT by 0.6% during the second quarter. BlackRock Inc. now owns 19,022,680 shares of the real estate investment trust's stock worth $441,896,000 after acquiring an additional 121,052 shares in the last quarter. Eaton Vance Management bought a new position in CareTrust REIT during the first quarter worth about $27,000. Finally, Daiwa Securities Group Inc. lifted its holdings in CareTrust REIT by 7.0% during the second quarter. Daiwa Securities Group Inc. now owns 25,293 shares of the real estate investment trust's stock worth $588,000 after acquiring an additional 1,650 shares in the last quarter. 85.16% of the stock is owned by institutional investors.
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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