Wall Street brokerages predict that Caretrust REIT Inc (NASDAQ:CTRE) will post $44.21 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Caretrust REIT’s earnings. The lowest sales estimate is $43.72 million and the highest is $44.70 million. Caretrust REIT reported sales of $39.51 million during the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The business is expected to issue its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Caretrust REIT will report full year sales of $174.18 million for the current year, with estimates ranging from $170.89 million to $176.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $185.93 million, with estimates ranging from $179.91 million to $199.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Caretrust REIT.
Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The company had revenue of $46.20 million during the quarter, compared to analyst estimates of $43.23 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. Caretrust REIT’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS.
CTRE stock traded up $0.38 during mid-day trading on Friday, reaching $23.63. The company had a trading volume of 404,665 shares, compared to its average volume of 899,632. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 18.46 and a beta of 0.67. The firm has a fifty day simple moving average of $23.50 and a 200 day simple moving average of $23.84. Caretrust REIT has a fifty-two week low of $16.68 and a fifty-two week high of $25.54.
The firm also recently announced a — dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.225 per share. This represents a dividend yield of 3.9%. The ex-dividend date is Friday, September 27th. Caretrust REIT’s dividend payout ratio (DPR) is presently 70.31%.
Several hedge funds and other institutional investors have recently modified their holdings of CTRE. BlackRock Inc. grew its stake in Caretrust REIT by 9.8% during the 2nd quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after buying an additional 1,666,016 shares during the last quarter. Vanguard Group Inc. grew its stake in Caretrust REIT by 13.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,976,743 shares of the real estate investment trust’s stock worth $356,147,000 after buying an additional 1,767,795 shares during the last quarter. Invesco Ltd. grew its stake in Caretrust REIT by 295.6% during the 2nd quarter. Invesco Ltd. now owns 3,284,547 shares of the real estate investment trust’s stock worth $78,107,000 after buying an additional 2,454,244 shares during the last quarter. Northern Trust Corp grew its stake in Caretrust REIT by 6.1% during the 2nd quarter. Northern Trust Corp now owns 1,922,226 shares of the real estate investment trust’s stock worth $45,710,000 after buying an additional 109,856 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Caretrust REIT by 814.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,666,726 shares of the real estate investment trust’s stock worth $39,635,000 after buying an additional 1,484,408 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Caretrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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