Wall Street analysts predict that Caretrust REIT Inc (NASDAQ:CTRE) will announce $34.73 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Caretrust REIT’s earnings, with the lowest sales estimate coming in at $32.85 million and the highest estimate coming in at $36.60 million. Caretrust REIT reported sales of $28.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 23%. The company is expected to announce its next earnings results on Tuesday, February 20th.
According to Zacks, 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 financial year, analysts anticipate that the firm will post sales of $147.26 million per share, with estimates ranging from $132.89 million to $161.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Caretrust REIT.
A number of brokerages recently issued reports on CTRE. KeyCorp set a $20.00 price target on shares of Caretrust REIT and gave the company a “buy” rating in a research report on Sunday, October 29th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 target price (up from $17.00) on shares of Caretrust REIT in a report on Thursday, November 9th. Zacks Investment Research raised shares of Caretrust REIT from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, October 24th. ValuEngine cut shares of Caretrust REIT from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $20.00 target price on shares of Caretrust REIT in a report on Thursday, November 9th. Two 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. The stock presently has an average rating of “Hold” and an average price target of $19.78.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Caretrust REIT by 4.1% in the fourth quarter. BlackRock Inc. now owns 11,429,663 shares of the real estate investment trust’s stock worth $191,561,000 after buying an additional 448,479 shares during the last quarter. State Street Corp raised its holdings in shares of Caretrust REIT by 12.6% during the second quarter. State Street Corp now owns 1,963,432 shares of the real estate investment trust’s stock valued at $36,401,000 after purchasing an additional 219,997 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Caretrust REIT by 16.1% during the second quarter. Northern Trust Corp now owns 1,251,382 shares of the real estate investment trust’s stock valued at $23,201,000 after purchasing an additional 173,123 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Caretrust REIT by 516.8% during the fourth quarter. Millennium Management LLC now owns 1,071,257 shares of the real estate investment trust’s stock valued at $17,954,000 after purchasing an additional 897,579 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Caretrust REIT by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 983,245 shares of the real estate investment trust’s stock valued at $18,721,000 after purchasing an additional 34,038 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.
Caretrust REIT (NASDAQ CTRE) opened at $15.19 on Tuesday. Caretrust REIT has a 12-month low of $14.30 and a 12-month high of $19.86. The stock has a market cap of $1,150.00, a PE ratio of 33.02, a P/E/G ratio of 2.33 and a beta of 0.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.60 and a current ratio of 1.60.
TRADEMARK VIOLATION WARNING: This article was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2018/02/20/34-73-million-in-sales-expected-for-caretrust-reit-inc-ctre-this-quarter.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.
Get a free copy of the Zacks research report on Caretrust REIT (CTRE)
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.