Wall Street brokerages expect Caretrust REIT Inc (NASDAQ:CTRE) to report $34.73 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Caretrust REIT’s earnings. The lowest sales estimate is $32.85 million and the highest is $36.60 million. Caretrust REIT posted sales of $28.24 million in the same quarter last year, which suggests a positive year over year growth rate of 23%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that Caretrust REIT will report full year sales of $34.73 million for the current financial year, with estimates ranging from $127.77 million to $133.00 million. For the next year, analysts forecast that the firm will post sales of $147.26 million per share, with estimates ranging from $132.89 million to $161.90 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Caretrust REIT.
Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Caretrust REIT had a net margin of 34.33% and a return on equity of 7.42%. The business had revenue of $32.90 million during the quarter, compared to the consensus estimate of $32.91 million. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of CTRE. Swiss National Bank lifted its position in Caretrust REIT by 4.0% in the second quarter. Swiss National Bank now owns 110,249 shares of the real estate investment trust’s stock worth $2,044,000 after purchasing an additional 4,200 shares during the period. Wells Fargo & Company MN lifted its position in Caretrust REIT by 31.0% in the second quarter. Wells Fargo & Company MN now owns 202,131 shares of the real estate investment trust’s stock worth $3,747,000 after purchasing an additional 47,822 shares during the period. Alliancebernstein L.P. lifted its position in Caretrust REIT by 10.2% in the second quarter. Alliancebernstein L.P. now owns 177,895 shares of the real estate investment trust’s stock worth $3,298,000 after purchasing an additional 16,500 shares during the period. Riverhead Capital Management LLC raised its stake in Caretrust REIT by 90.7% during the second quarter. Riverhead Capital Management LLC now owns 5,529 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 2,629 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Caretrust REIT by 19.0% during the second quarter. TIAA CREF Investment Management LLC now owns 346,734 shares of the real estate investment trust’s stock worth $6,428,000 after acquiring an additional 55,460 shares in the last quarter. 90.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Caretrust REIT (NASDAQ:CTRE) opened at $15.37 on Friday. Caretrust REIT has a 12-month low of $14.71 and a 12-month high of $19.86. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $1,170.00, a P/E ratio of 33.41, a PEG ratio of 2.44 and a beta of 0.55.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.185 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.74 annualized dividend and a yield of 4.81%. Caretrust REIT’s dividend payout ratio (DPR) is currently 160.87%.
COPYRIGHT VIOLATION NOTICE: “Caretrust REIT Inc (CTRE) Expected to Post Quarterly Sales of $34.73 Million” was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/02/03/caretrust-reit-inc-ctre-expected-to-post-quarterly-sales-of-34-73-million.html.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 MarketBeat.com's FREE daily email newsletter.