Thrivent Financial for Lutherans Sells 134,684 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Thrivent Financial for Lutherans cut its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 52.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,099 shares of the real estate investment trust's stock after selling 134,684 shares during the period. Thrivent Financial for Lutherans owned 0.07% of CareTrust REIT worth $3,737,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its position in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock worth $100,000 after buying an additional 467 shares in the last quarter. United Services Automobile Association increased its position in shares of CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust's stock valued at $282,000 after purchasing an additional 540 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of CareTrust REIT by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock valued at $4,678,000 after purchasing an additional 544 shares in the last quarter. US Bancorp DE lifted its position in CareTrust REIT by 6.2% in the third quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 692 shares during the period. Finally, Blue Trust Inc. boosted its stake in CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after buying an additional 772 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

CTRE traded up $0.14 during midday trading on Tuesday, hitting $30.17. The company had a trading volume of 918,683 shares, compared to its average volume of 1,558,701. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company has a market capitalization of $5.17 billion, a PE ratio of 42.13 and a beta of 1.09. The firm's 50-day simple moving average is $30.75 and its 200-day simple moving average is $28.20. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. Equities research analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.84%. CareTrust REIT's payout ratio is presently 161.11%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the transaction, the chief financial officer now directly owns 257,439 shares of the company's stock, valued at $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 is available through this hyperlink. Company insiders own 0.54% of the company's stock.

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.