Caretrust REIT Inc (CTRE) Expected to Post Quarterly Sales of $34.73 Million

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.

Several equities research analysts have recently weighed in on the company. ValuEngine cut Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Friday. Capital One Financial reissued an “equal weight” rating and issued a $21.00 price objective on shares of Caretrust REIT in a research report on Sunday, October 22nd. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price objective (up from $17.00) on shares of Caretrust REIT in a research report on Thursday, November 9th. BidaskClub cut Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $20.00 price objective on shares of Caretrust REIT in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Caretrust REIT presently has an average rating of “Hold” and an average target price of $19.78.

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%.

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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.

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Earnings History and Estimates for Caretrust REIT (NASDAQ:CTRE)

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