Thrivent Financial for Lutherans Purchases 190,259 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Thrivent Financial for Lutherans increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 157.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,358 shares of the real estate investment trust's stock after purchasing an additional 190,259 shares during the period. Thrivent Financial for Lutherans owned 0.18% of CareTrust REIT worth $8,422,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CTRE. Advantage Trust Co bought a new stake in shares of CareTrust REIT during the fourth quarter worth $30,000. Versant Capital Management Inc increased its position in CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 743 shares during the period. Blue Trust Inc. raised its holdings in CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 1,990 shares during the period. Finally, Signaturefd LLC lifted its position in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 443 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

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CareTrust REIT Trading Down 0.6 %

CareTrust REIT stock traded down $0.16 during mid-day trading on Wednesday, hitting $28.67. 1,063,057 shares of the company's stock were exchanged, compared to its average volume of 1,618,262. The company's 50 day simple moving average is $26.75 and its 200-day simple moving average is $28.62. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $5.38 billion, a P/E ratio of 36.29, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the business posted $0.25 EPS. On average, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, March 31st. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio is 169.62%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wells Fargo & Company reduced their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Wedbush reiterated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Royal Bank of Canada reduced their target price on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.