$34.73 Million in Sales Expected for Caretrust REIT Inc (CTRE) This Quarter

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.

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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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