Thrivent Financial for Lutherans Has $7.41 Million Stake in CareTrust REIT, Inc. $CTRE

Thrivent Financial for Lutherans decreased its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,939 shares of the company’s stock after selling 27,644 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CareTrust REIT were worth $7,410,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CTRE. Royal Bank of Canada increased its stake in shares of CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock valued at $5,129,000 after buying an additional 47,936 shares during the period. NewEdge Advisors LLC increased its stake in shares of CareTrust REIT by 11.3% in the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock valued at $961,000 after buying an additional 3,408 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after buying an additional 644 shares during the period. First Trust Advisors LP increased its stake in shares of CareTrust REIT by 67.6% in the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock valued at $7,502,000 after buying an additional 98,850 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of CareTrust REIT by 310.1% in the second quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock valued at $1,121,000 after buying an additional 27,706 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTRE shares. Wells Fargo & Company upped their price objective on CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. UBS Group upped their price objective on CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Zacks Research downgraded CareTrust REIT from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $42.82.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $41.47 on Thursday. The business’s 50 day simple moving average is $39.20 and its 200 day simple moving average is $38.12. CareTrust REIT, Inc. has a one year low of $27.81 and a one year high of $43.08. The stock has a market capitalization of $9.80 billion, a PE ratio of 26.59, a PEG ratio of 2.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.39 dividend. The ex-dividend date was Tuesday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is currently 85.90%.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.