FY2024 EPS Estimates for CareTrust REIT Raised by Wedbush

CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) - Investment analysts at Wedbush boosted their FY2024 earnings estimates for shares of CareTrust REIT in a report released on Monday, November 4th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $1.50 per share for the year, up from their previous forecast of $1.45. The consensus estimate for CareTrust REIT's current full-year earnings is $1.50 per share. Wedbush also issued estimates for CareTrust REIT's Q4 2024 earnings at $0.40 EPS and FY2025 earnings at $1.72 EPS.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter last year, the business earned $0.35 EPS.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company upgraded CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets increased their target price on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Royal Bank of Canada raised their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. Finally, KeyCorp raised their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Price Performance

CTRE stock traded down $0.21 during midday trading on Tuesday, reaching $30.85. The company had a trading volume of 4,318,432 shares, compared to its average volume of 1,516,717. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 42.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. CareTrust REIT has a 1-year low of $20.10 and a 1-year high of $33.15. The stock has a 50 day moving average price of $30.62 and a 200-day moving average price of $27.57.

Institutional Trading of CareTrust REIT

Several hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in CareTrust REIT in the second quarter worth $27,000. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT in the 2nd quarter valued at about $34,000. Blue Trust Inc. increased its position in CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 772 shares in the last quarter. Quest Partners LLC acquired a new position in CareTrust REIT during the 2nd quarter worth approximately $40,000. Finally, GAMMA Investing LLC boosted its holdings in CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,143 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the sale, the chief financial officer now owns 257,439 shares of the company's stock, valued at approximately $7,671,682.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is presently 161.11%.

CareTrust REIT Company Profile

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.