CareTrust REIT Inc (CTRE) Stock Behavior Isn’t As Predictable As You Think

CareTrust REIT Inc (NYSE:CTRE) concluded the trading at $23.66 on Friday, April 12 with a fall of -0.13% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $23.69 and 5Y monthly beta was reading 1.07. Company’s P/E ratio for the trailing 12 months is 48.79. Considering stock’s 52-week price range provides that CTRE hit a high price of $24.62 and saw its price falling to a low level of $18.05 during that period. Over a period of past 1-month, stock came adding 0.04% in its value.

With its current market valuation of $3.19 billion, CareTrust REIT Inc is set to declare its quarterly results on May 08, 2024 – May 13, 2024. CTRE Stock’s Forward Dividend of 0.98 and its yield of 4.15% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $0.25 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $1.04 for 2024 with estimates of that growing to $1.12 in next year. These estimates are suggesting current year growth of 108.00% for EPS and 7.70% growth next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $52.91 million. They suggested that in the process company could generate revenue of as low as $52.2 million which could climb up to $53.74 million to hit a high. The average estimate is representing an increase of 14.60% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $220.41 million in 2024, which will be 11.00% more from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review CTRE stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.

Digging deeper we become aware of the PEG ratio of the CTRE stock which is currently positioned at 8.71. It further provides that stock’s current price level is -1.75% away from its 20-day simple moving average and is 2.27% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 47.03 while volatility remained at 1.36% over the past week which changes to 1.55% when measuring it over the past month. Beta is valued at 1.06, while measure of average true range or ATR is currently at 0.41.

Having a second look at CareTrust REIT Inc (NYSE:CTRE) provides that stock’s average daily trading volume for 3 months was 1.50 million, while it jumped to 1.06 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 134.99 million.

The percentage of outstanding shares held by the insiders is 0.55% while it is 89.28% for the institutional holders. The figures also indicate that as of Mar 28, 2024, number of stock’s short shares was 4.63 million which implies a short ratio of 2.7. This shows up a 3.43% of Short Interest in company’s outstanding shares on the day. In March the standing of shares short improved as it was 2.37 million in the previous month. Addition of 5.72% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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