CareTrust REIT (CTRE) Scheduled to Post Earnings on Tuesday

CareTrust REIT (NASDAQ:CTRE) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Parties that are interested in registering for the company’s 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 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 analysts’ expectations of $66.36 million. During the same period in the previous year, the firm posted $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 Down 0.0 %

CareTrust REIT stock opened at $30.93 on Monday. CareTrust REIT has a fifty-two week low of $20.10 and a fifty-two 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 has a market capitalization of $4.39 billion, a P/E ratio of 59.48 and a beta of 1.10. The stock has a 50-day simple moving average of $30.24 and a 200-day simple moving average of $27.22.

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 issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s payout ratio is currently 223.08%.

Insider Activity at CareTrust REIT

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 257,439 shares in the company, valued at approximately $7,671,682.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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