Equities analysts expect Caretrust REIT Inc (NASDAQ:CTRE) to post sales of $36.62 million for the current quarter, according to Zacks. Two analysts have issued estimates for Caretrust REIT’s earnings. The lowest sales estimate is $35.34 million and the highest is $37.90 million. Caretrust REIT posted sales of $30.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.6%. The business is expected to announce its next earnings results on Tuesday, May 1st.
On average, analysts expect that Caretrust REIT will report full-year sales of $36.62 million for the current fiscal year, with estimates ranging from $142.30 million to $161.90 million. For the next year, analysts forecast that the firm will report sales of $166.47 million per share, with estimates ranging from $144.83 million to $188.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Caretrust REIT.
CTRE has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Stephens set a $19.00 target price on shares of Caretrust REIT and gave the stock a “buy” rating in a research report on Friday, January 12th. TheStreet downgraded shares of Caretrust REIT from a “b” rating to a “c+” rating in a research report on Wednesday, February 28th. Wells Fargo & Co upgraded shares of Caretrust REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Tuesday, December 19th. Finally, KeyCorp set a $16.00 target price on shares of Caretrust REIT and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.45.
Several institutional investors have recently added to or reduced their stakes in CTRE. Millennium Management LLC raised its holdings in shares of Caretrust REIT by 516.8% during the 4th quarter. Millennium Management LLC now owns 1,071,257 shares of the real estate investment trust’s stock valued at $17,954,000 after purchasing an additional 897,579 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Caretrust REIT by 4.1% during the 4th quarter. BlackRock Inc. now owns 11,429,663 shares of the real estate investment trust’s stock valued at $191,561,000 after purchasing an additional 448,479 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Caretrust REIT during the 4th quarter valued at $2,493,000. Eversept Partners LLC bought a new position in shares of Caretrust REIT during the 4th quarter valued at $2,343,000. Finally, Heitman Real Estate Securities LLC raised its holdings in shares of Caretrust REIT by 14.1% during the 4th quarter. Heitman Real Estate Securities LLC now owns 968,367 shares of the real estate investment trust’s stock valued at $16,230,000 after purchasing an additional 119,547 shares in the last quarter. Institutional investors and hedge funds own 91.44% of the company’s stock.
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Caretrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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