KeyCorp Brokers Cut Earnings Estimates for Caretrust REIT Inc (NASDAQ:CTRE)

Caretrust REIT Inc (NASDAQ:CTRE) – KeyCorp reduced their Q3 2019 earnings per share estimates for Caretrust REIT in a research note issued on Wednesday, August 14th. KeyCorp analyst J. Sadler now expects that the real estate investment trust will post earnings per share of $0.35 for the quarter, down from their prior forecast of $0.36. KeyCorp also issued estimates for Caretrust REIT’s Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.39 EPS, Q4 2020 earnings at $0.38 EPS and FY2020 earnings at $1.51 EPS.

Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.14). The company had revenue of $46.20 million for the quarter, compared to the consensus estimate of $43.23 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 39.70%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS.

Other analysts have also recently issued research reports about the stock. Raymond James cut shares of Caretrust REIT from a “strong-buy” rating to a “market perform” rating and set a $25.00 target price on the stock. in a research note on Friday, May 31st. BMO Capital Markets reissued a “buy” rating and issued a $26.00 target price on shares of Caretrust REIT in a research note on Wednesday, August 7th. ValuEngine cut shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of Caretrust REIT from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, BidaskClub raised shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.86.

NASDAQ CTRE opened at $23.46 on Monday. The stock has a market cap of $2.24 billion, a P/E ratio of 18.33 and a beta of 0.74. The company’s 50-day simple moving average is $23.45 and its 200 day simple moving average is $23.63. Caretrust REIT has a twelve month low of $16.68 and a twelve month high of $25.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Caretrust REIT by 295.6% during the second quarter. Invesco Ltd. now owns 3,284,547 shares of the real estate investment trust’s stock worth $78,107,000 after buying an additional 2,454,244 shares during the last quarter. Vanguard Group Inc. grew its stake in Caretrust REIT by 13.4% during the second quarter. Vanguard Group Inc. now owns 14,976,743 shares of the real estate investment trust’s stock worth $356,147,000 after buying an additional 1,767,795 shares during the last quarter. Centersquare Investment Management LLC grew its stake in Caretrust REIT by 11,620.8% during the first quarter. Centersquare Investment Management LLC now owns 1,726,830 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 1,712,097 shares during the last quarter. BlackRock Inc. grew its stake in Caretrust REIT by 9.8% during the second quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after buying an additional 1,666,016 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Caretrust REIT by 814.2% during the second quarter. Nuveen Asset Management LLC now owns 1,666,726 shares of the real estate investment trust’s stock worth $39,635,000 after buying an additional 1,484,408 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

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Earnings History and Estimates for Caretrust REIT (NASDAQ:CTRE)

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