Wall Street brokerages forecast that Caretrust REIT Inc (NASDAQ:CTRE) will post sales of $41.13 million for the current quarter, Zacks reports. Three analysts have provided estimates for Caretrust REIT’s earnings, with the lowest sales estimate coming in at $40.30 million and the highest estimate coming in at $42.50 million. Caretrust REIT reported sales of $38.10 million during the same quarter last year, which indicates a positive year over year growth rate of 8%. The firm is scheduled to report its next earnings results on Tuesday, May 14th.
According to Zacks, analysts expect that Caretrust REIT will report full year sales of $171.24 million for the current financial year, with estimates ranging from $162.29 million to $180.00 million. For the next financial year, analysts expect that the firm will report sales of $184.77 million, with estimates ranging from $165.25 million to $206.20 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Caretrust REIT.
Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). The company had revenue of $40.36 million during the quarter, compared to analysts’ expectations of $39.99 million. Caretrust REIT had a net margin of 36.91% and a return on equity of 8.52%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share.
Shares of Caretrust REIT stock traded down $0.07 during midday trading on Monday, hitting $23.70. The company had a trading volume of 701,902 shares, compared to its average volume of 977,842. The firm has a market capitalization of $2.10 billion, a P/E ratio of 18.52 and a beta of 0.91. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.64. Caretrust REIT has a 12-month low of $12.89 and a 12-month high of $24.43.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.225 per share. The ex-dividend date was Thursday, March 28th. This is a positive change from Caretrust REIT’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a yield of 3.80%. Caretrust REIT’s dividend payout ratio (DPR) is currently 70.31%.
A number of institutional investors and hedge funds have recently bought and sold shares of CTRE. Bank of New York Mellon Corp raised its position in shares of Caretrust REIT by 11.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,074,217 shares of the real estate investment trust’s stock valued at $36,735,000 after purchasing an additional 206,551 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Caretrust REIT by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,149,371 shares of the real estate investment trust’s stock valued at $20,354,000 after purchasing an additional 24,700 shares during the last quarter. Vident Investment Advisory LLC raised its position in shares of Caretrust REIT by 26.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 15,823 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 3,359 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Caretrust REIT by 56.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 53,357 shares of the real estate investment trust’s stock valued at $945,000 after purchasing an additional 19,254 shares during the last quarter. Finally, IndexIQ Advisors LLC raised its position in shares of Caretrust REIT by 4.6% in the 3rd quarter. IndexIQ Advisors LLC now owns 71,158 shares of the real estate investment trust’s stock valued at $1,260,000 after purchasing an additional 3,104 shares during the last quarter. 88.30% of the stock is 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 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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