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

CareTrust REIT (NASDAQ:CTRE - Get Free Report) will 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.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). The business had revenue of $68.89 million during the quarter, compared to the consensus estimate 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 company earned $0.35 earnings per share. 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 Performance

CareTrust REIT stock traded up $0.09 during mid-day trading on Thursday, hitting $30.94. 845,728 shares of the company's stock traded hands, compared to its average volume of 1,407,496. The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 0.34. CareTrust REIT has a one year low of $20.10 and a one year high of $31.51. The firm has a 50 day moving average price of $30.12 and a 200 day moving average price of $27.10. The company has a market cap of $4.40 billion, a PE ratio of 59.94 and a beta of 1.10.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, September 30th. CareTrust REIT's payout ratio is currently 223.08%.

Insider Activity

In other news, CFO William M. Wagner sold 35,000 shares of the business's stock in a transaction on 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 sale, the chief financial officer now directly owns 257,439 shares of the company's stock, valued at $7,671,682.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.75% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CareTrust REIT from $23.00 to $27.00 and gave the stock a "hold" rating in a research report on Monday, July 1st. KeyCorp upped their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. BMO Capital Markets boosted their price objective 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 upgraded CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, Royal Bank of Canada lifted their target price on CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.00.

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.