Caretrust REIT Inc (CTRE) Expected to Announce Quarterly Sales of $39.64 Million

Wall Street brokerages expect Caretrust REIT Inc (NASDAQ:CTRE) to report sales of $39.64 million for the current quarter, according to Zacks. Two analysts have made estimates for Caretrust REIT’s earnings. The highest sales estimate is $40.00 million and the lowest is $39.28 million. Caretrust REIT posted sales of $32.95 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.3%. The company is expected to announce its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that Caretrust REIT will report full-year sales of $157.24 million for the current financial year, with estimates ranging from $155.91 million to $158.80 million. For the next financial year, analysts forecast that the company will report sales of $175.43 million per share, with estimates ranging from $160.00 million to $183.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Caretrust REIT.

Caretrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. The firm had revenue of $38.97 million for the quarter, compared to the consensus estimate of $38.44 million. Caretrust REIT had a net margin of 28.26% and a return on equity of 6.81%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS.

CTRE has been the topic of a number of recent research reports. Wells Fargo & Co set a $19.00 target price on shares of Caretrust REIT and gave the stock a “buy” rating in a research report on Thursday, May 31st. BidaskClub raised shares of Caretrust REIT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 7th. ValuEngine downgraded shares of Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Cantor Fitzgerald began coverage on shares of Caretrust REIT in a research report on Tuesday, May 8th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.78.

NASDAQ:CTRE opened at $17.38 on Friday. The stock has a market capitalization of $1.43 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.74 and a beta of 0.78. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. Caretrust REIT has a 1-year low of $12.73 and a 1-year high of $19.82.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Friday, June 29th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, June 28th. Caretrust REIT’s dividend payout ratio (DPR) is 70.69%.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Caretrust REIT by 15.0% during the 2nd quarter. BlackRock Inc. now owns 14,967,382 shares of the real estate investment trust’s stock valued at $249,805,000 after purchasing an additional 1,948,664 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Caretrust REIT by 61.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,867,666 shares of the real estate investment trust’s stock valued at $31,171,000 after acquiring an additional 712,936 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Caretrust REIT by 52.9% during the 1st quarter. Millennium Management LLC now owns 1,638,116 shares of the real estate investment trust’s stock valued at $21,951,000 after acquiring an additional 566,859 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Caretrust REIT by 4.8% during the 1st quarter. Northern Trust Corp now owns 1,385,675 shares of the real estate investment trust’s stock valued at $18,568,000 after acquiring an additional 63,860 shares during the last quarter. Finally, Keeley Teton Advisors LLC boosted its holdings in shares of Caretrust REIT by 27.3% during the 1st quarter. Keeley Teton Advisors LLC now owns 1,222,249 shares of the real estate investment trust’s stock valued at $16,378,000 after acquiring an additional 262,016 shares during the last quarter. 89.68% of the stock is currently owned by institutional investors.

About Caretrust REIT

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 186 net leased healthcare properties and three operated seniors housing properties in 24 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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