Thrivent Financial for Lutherans Lowers Stock Holdings in CareTrust REIT, Inc. $CTRE

Thrivent Financial for Lutherans reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,583 shares of the real estate investment trust’s stock after selling 41,832 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CareTrust REIT were worth $8,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC boosted its holdings in CareTrust REIT by 99.3% in the 3rd quarter. AlphaQuest LLC now owns 26,273 shares of the real estate investment trust’s stock valued at $911,000 after purchasing an additional 13,090 shares during the period. Arizona State Retirement System boosted its stake in CareTrust REIT by 19.0% during the third quarter. Arizona State Retirement System now owns 65,189 shares of the real estate investment trust’s stock valued at $2,261,000 after buying an additional 10,422 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in CareTrust REIT by 3.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 57,391 shares of the real estate investment trust’s stock valued at $1,990,000 after buying an additional 1,838 shares during the period. Foundations Investment Advisors LLC grew its position in CareTrust REIT by 8.3% during the third quarter. Foundations Investment Advisors LLC now owns 16,414 shares of the real estate investment trust’s stock worth $569,000 after buying an additional 1,256 shares in the last quarter. Finally, Archer Investment Corp increased its stake in CareTrust REIT by 6.8% in the 3rd quarter. Archer Investment Corp now owns 6,089 shares of the real estate investment trust’s stock worth $211,000 after acquiring an additional 389 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 5.6%

Shares of CTRE stock opened at $38.62 on Friday. The stock has a market capitalization of $8.62 billion, a PE ratio of 48.88, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The business has a 50-day moving average of $36.94 and a 200 day moving average of $35.20. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $38.80.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citizens Jmp initiated coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target for the company. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price target on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Finally, Citigroup started coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.