CareTrust REIT (CTRE) Scheduled to Post Earnings on Tuesday

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

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). The business had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same period last year, the business earned $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 Price Performance

CTRE stock opened at $30.93 on Monday. The business has a fifty day moving average of $30.24 and a two-hundred day moving average of $27.22. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 59.48 and a beta of 1.10. CareTrust REIT has a 52-week low of $20.10 and a 52-week high of $31.51.

CareTrust REIT Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity at CareTrust REIT

In related news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the completion of the transaction, the chief financial officer now directly owns 257,439 shares in the company, valued at approximately $7,671,682.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.75% of the stock is currently owned by company insiders.

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.