CareTrust REIT (CTRE) Scheduled to Post Quarterly Earnings on Tuesday

CareTrust REIT (NASDAQ:CTRE) will announce its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. The firm had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, analysts expect CareTrust REIT to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CareTrust REIT Stock Down 0.0 %

Shares of NASDAQ:CTRE opened at $30.93 on Friday. CareTrust REIT has a 52 week low of $20.10 and a 52 week high of $31.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 13.37 and a current ratio of 13.37. The company’s fifty day moving average is $30.24 and its 200-day moving average is $27.19. The company has a market capitalization of $4.39 billion, a PE ratio of 59.48 and a beta of 1.10.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.75%. CareTrust REIT’s dividend payout ratio is presently 223.08%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CTRE shares. BMO Capital Markets boosted their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 1st. KeyCorp lifted their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, Royal Bank of Canada lifted their price target on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Insiders Place Their Bets

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.75% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.