CareTrust's stock soared 5.01% during intraday trading on Friday, following the release of its first-quarter earnings results.

The real estate investment trust reported adjusted earnings of 35 cents per share for the quarter ended March 31, matching analyst expectations. Revenue showed significant growth, rising 59.4% year-over-year to $114.20 million, although it came in slightly below the estimated $119.26 million. The company also reported a quarterly net income of $80.21 million.

Analyst sentiment remains positive, with the current average rating on the shares being "buy." The breakdown includes 11 "strong buy" or "buy" recommendations and one "hold." Wall Street's median 12-month price target for CareTrust is $43.50, representing a potential upside of approximately 9.2% from its last closing price.