CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 52.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,099 shares of the real estate investment trust’s stock after selling 134,684 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of CareTrust REIT worth $3,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of CareTrust REIT in the second quarter worth approximately $27,000. Rothschild Investment LLC purchased a new position in CareTrust REIT during the 2nd quarter worth approximately $34,000. Blue Trust Inc. grew its position in CareTrust REIT by 178.3% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 772 shares in the last quarter. Quest Partners LLC acquired a new stake in CareTrust REIT during the 2nd quarter valued at $40,000. Finally, GAMMA Investing LLC lifted its holdings in shares of CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,143 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO William M. Wagner sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.80, for a total value of $1,043,000.00. Following the sale, the chief financial officer now directly owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. This trade represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets increased their price target on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, KeyCorp upped their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Trading Down 0.9 %

Shares of NASDAQ CTRE opened at $30.03 on Tuesday. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 41.63 and a beta of 1.09. The business has a 50 day simple moving average of $30.77 and a 200 day simple moving average of $28.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, research analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Monday, September 30th. CareTrust REIT’s dividend payout ratio is 161.11%.

CareTrust REIT Company Profile

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.