Caretrust REIT Inc (NASDAQ:CTRE) Expected to Post Quarterly Sales of $43.65 Million

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Brokerages expect Caretrust REIT Inc (NASDAQ:CTRE) to report $43.65 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Caretrust REIT’s earnings, with estimates ranging from $40.05 million to $46.40 million. Caretrust REIT posted sales of $39.51 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Caretrust REIT will report full year sales of $172.45 million for the current year, with estimates ranging from $159.80 million to $179.00 million. For the next fiscal year, analysts forecast that the business will report sales of $186.74 million, with estimates ranging from $162.65 million to $204.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Caretrust REIT.

Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.14). Caretrust REIT had a return on equity of 8.08% and a net margin of 39.70%. The business had revenue of $46.20 million during the quarter, compared to the consensus estimate of $43.23 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis.

A number of research analysts have weighed in on CTRE shares. Zacks Investment Research cut shares of Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Stifel Nicolaus set a $26.00 price objective on shares of Caretrust REIT and gave the company a “buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Caretrust REIT in a research report on Wednesday, August 7th. ValuEngine cut shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.86.

Several hedge funds and other institutional investors have recently bought and sold shares of CTRE. Point72 Asset Management L.P. bought a new position in shares of Caretrust REIT in the second quarter worth about $36,000. Quadrant Capital Group LLC lifted its stake in Caretrust REIT by 685.3% in the first quarter. Quadrant Capital Group LLC now owns 2,733 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,385 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Caretrust REIT in the second quarter worth about $71,000. Nisa Investment Advisors LLC purchased a new stake in Caretrust REIT in the first quarter worth about $92,000. Finally, Meridian Wealth Management LLC purchased a new stake in Caretrust REIT in the second quarter worth about $95,000. Hedge funds and other institutional investors own 84.36% of the company’s stock.

CTRE stock traded up $0.35 during mid-day trading on Thursday, reaching $23.28. 894,200 shares of the stock traded hands, compared to its average volume of 799,992. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97. Caretrust REIT has a one year low of $16.68 and a one year high of $25.54. The stock has a market capitalization of $2.19 billion, a PE ratio of 18.19 and a beta of 0.74. The business has a 50-day moving average price of $23.47 and a two-hundred day moving average price of $23.63.

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

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