CareTrust REIT

-15.63%

Live  

CareTrust REIT is a real estate investment trust (REIT) that specializes in investing in healthcare-related properties, including skilled nursing facilities, assisted living facilities, and other healthcare facilities. The company was founded in 2014 and is headquartered in San Clemente, California.
The company's primary goal is to acquire and own a diverse portfolio of high-quality healthcare properties, and then lease them to long-term operators under long-term, triple-net leases. This allows the company to generate a steady stream of cash flow and provide stable returns for its shareholders.
CareTrust REIT focuses on properties that have strong financial performance and potential for growth. As of 2020, the company's portfolio includes over 200 properties in over 30 states, with a total investment of over $1 billion. It is a publicly traded company and its stock is listed on the NASDAQ under the ticker symbol CTRE.
The company has a team of experienced professionals with backgrounds in healthcare, real estate, finance, and operations. They have the expertise to identify and acquire properties that meet the company's investment criteria and to work closely with operators to ensure the success of their properties.
Overall, CareTrust REIT is committed to providing high-quality, compassionate care to residents in their properties, while also creating value for their shareholders through responsible and strategic investing.

Q2FyZVRydX N0IFJFSVQg aXMgYSBjb2 1wYW55IHRo YXQgZm9jdX NlcyBvbiBo ZWxwaW5nIH Blb3BsZSBs aXZlIGluIH BsYWNlcyB3 aGVyZSB0aG V5IGNhbiBn ZXQgY2FyZS BhbmQgc3Vw cG9ydCwgbG lrZSBzZW5p b3IgbGl2aW 5nIGZhY2ls aXRpZXMgYW 5kIG51cnNp bmcgaG9tZX MuIFRoaW5r IG9mIGl0IG xpa2UgYSBs YW5kbG9yZC wgYnV0IGlu c3RlYWQgb2 YgaG91c2Vz IG9yIGFwYX J0bWVudHMs IHRoZXkgb3 duIGJ1aWxk aW5ncyB0aG F0IGFyZSBk ZXNpZ25lZC Bmb3IgcGVv cGxlIHdoby BuZWVkIGV4 dHJhIGhlbH AgZHVlIHRv IGFnZSBvci BoZWFsdGgg aXNzdWVzLj xicj5Tbywg aG93IGRvZX MgQ2FyZVRy dXN0IG1ha2 UgbW9uZXk/ IFRoZXkgYn V5IG9yIGJ1 aWxkIHRoZX NlIHNwZWNp YWwgYnVpbG RpbmdzIGFu ZCB0aGVuIH JlbnQgdGhl bSBvdXQgdG 8gY29tcGFu aWVzIHRoYX Qgb3BlcmF0 ZSB0aGUgZm FjaWxpdGll cy4gVGhlIG NvbXBhbmll cyBwYXkgcm VudCB0byBD YXJlVHJ1c3 QsIGFuZCB0 aGF04oCZcy Bob3cgQ2Fy ZVRydXN0IG Vhcm5zIG1v bmV5LiBUaG UgcGVvcGxl IGxpdmluZy BpbiB0aGVz ZSBwbGFjZX MgcGF5IGZv ciB0aGUgY2 FyZSBhbmQg c2VydmljZX MgdGhleSBu ZWVkLCBidX QgaXTigJlz IHRoZSBjb2 1wYW5pZXMg bWFuYWdpbm cgdGhlc2Ug ZmFjaWxpdG llcyB0aGF0 IHBheSBDYX JlVHJ1c3Qg Zm9yIHRoZS BidWlsZGlu Z3MuPGJyPk 5vdywgd2h5 IGlzIENhcm VUcnVzdCBz dWNjZXNzZn VsIGFuZCBs aWtlbHkgdG 8ga2VlcCBz dWNjZWVkaW 5nIGluIHRo ZSBmdXR1cm U/IFRoZXJl IGFyZSBhIG ZldyByZWFz b25zOjxicj 4xLiA8c3Ry b25nPkdyb3 dpbmcgTmVl ZDo8L3N0cm 9uZz4gTW9y ZSBhbmQgbW 9yZSBwZW9w bGUgYXJlIG dldHRpbmcg b2xkZXIgYW 5kIG5lZWQg cGxhY2VzIH RoYXQgY2Fu IHRha2UgY2 FyZSBvZiB0 aGVtLiBUaG lzIG1lYW5z IHRoZXJlIH dpbGwgYmUg YSBiaWdnZX IgZGVtYW5k IGZvciB0aG Uga2luZHMg b2YgYnVpbG RpbmdzIENh cmVUcnVzdC Bvd25zLjxi cj4yLiA8c3 Ryb25nPlN0 YWJsZSBJbm NvbWU6PC9z dHJvbmc+IF NpbmNlIENh cmVUcnVzdC BoYXMgbG9u Zy10ZXJtIG NvbnRyYWN0 cyB3aXRoIH RoZSBjb21w YW5pZXMgdG hhdCBydW4g dGhlIGNhcm UgZmFjaWxp dGllcywgdG hleSBoYXZl IGEgc3RlYW R5IHN0cmVh bSBvZiBpbm NvbWUuIFRo YXQgaGVscH MgdGhlbSB0 byBwbGFuIG FuZCBpbnZl c3QgZm9yIH RoZSBmdXR1 cmUuPGJyPj MuIDxzdHJv bmc+U21hcn QgTWFuYWdl bWVudDo8L3 N0cm9uZz4g Q2FyZVRydX N0IGhhcyBh IHNraWxsZW QgdGVhbSB0 aGF0IGtub3 dzIGhvdyB0 byBmaW5kIH RoZSBiZXN0 IHByb3Blcn RpZXMgdG8g YnV5IGFuZC Bob3cgdG8g bWFuYWdlIH RoZW0gd2Vs bCwgd2hpY2 ggaGVscHMg dGhlbSBlYX JuIG1vcmUg bW9uZXkuPG JyPjQuIDxz dHJvbmc+SG VhbHRoY2Fy ZSBGb2N1cz o8L3N0cm9u Zz4gQXMgaG VhbHRoY2Fy ZSBjb250aW 51ZXMgdG8g aW1wcm92ZS wgdGhlIGlt cG9ydGFuY2 Ugb2YgZ29v ZCBjYXJlIG ZhY2lsaXRp ZXMgd2lsbC Bvbmx5IGdy b3cuIENhcm VUcnVzdCBp cyByaWdodC BpbiB0aGUg bWlkZGxlIG 9mIHRoaXMg aW1wb3J0YW 50IHBhcnQg b2YgdGhlIG NvbW11bml0 eS48YnI+U2 8sIGluIHNp bXBsZSB0ZX JtcywgQ2Fy ZVRydXN0IF JFSVQgaXMg YSBjb21wYW 55IHRoYXQg bWFrZXMgYS Bsb3Qgb2Yg c2Vuc2Ugcm lnaHQgbm93 IGFuZCBmb3 IgdGhlIGZ1 dHVyZSBiZW NhdXNlIHRo ZXkgcHJvdm lkZSBpbXBv cnRhbnQgc3 BhY2VzIGZv ciBwZW9wbG Ugd2hvIG5l ZWQgY2FyZS wgbWFraW5n IHRoZW0gc3 Ryb25nIGFu ZCBsaWtlbH kgdG8ga2Vl cCBkb2luZy B3ZWxsITxi cj4=

Q2FyZVRydX N0IFJFSVQg KFJlYWwgRX N0YXRlIElu dmVzdG1lbn QgVHJ1c3Qp IGlzIGEgaG VhbHRoY2Fy ZSByZWFsIG VzdGF0ZSBp bnZlc3RtZW 50IGNvbXBh bnkgdGhhdC BzcGVjaWFs aXplcyBpbi BhY3F1aXJp bmcgYW5kIG 93bmluZyBo ZWFsdGhjYX JlIHByb3Bl cnRpZXMuIE l0IGlzIHVu aXF1ZSBpbi B0aGUgZm9s bG93aW5nIH dheXM6PGJy PjEuIEZvY3 VzIG9uIGhl YWx0aGNhcm UgcmVhbCBl c3RhdGU6IE NhcmVUcnVz dCBSRUlUIG 9ubHkgaW52 ZXN0cyBpbi BoZWFsdGhj YXJlIHByb3 BlcnRpZXMg c3VjaCBhcy BzZW5pb3Ig bGl2aW5nLC Bwb3N0LWFj dXRlIGNhcm UsIGFuZCBt ZWRpY2FsIG 9mZmljZSBi dWlsZGluZ3 MuIFRoaXMg c3BlY2lhbG l6ZWQgZm9j dXMgYWxsb3 dzIHRoZSBj b21wYW55IH RvIGhhdmUg YSBkZWVwIH VuZGVyc3Rh bmRpbmcgYW 5kIGV4cGVy dGlzZSBpbi B0aGUgaGVh bHRoY2FyZS BpbmR1c3Ry eSwgZW5hYm xpbmcgdGhl bSB0byBtYW tlIHN0cmF0 ZWdpYyBpbn Zlc3RtZW50 IGRlY2lzaW 9ucy48YnI+ Mi4gRGl2ZX JzZSBwb3J0 Zm9saW86IF RoZSBjb21w YW55J3MgcG 9ydGZvbGlv IGluY2x1ZG VzIGEgZGl2 ZXJzZSByYW 5nZSBvZiBo ZWFsdGhjYX JlIHByb3Bl cnRpZXMsIG luY2x1ZGlu ZyBza2lsbG VkIG51cnNp bmcgZmFjaW xpdGllcywg YXNzaXN0ZW QgbGl2aW5n IGZhY2lsaX RpZXMsIGlu ZGVwZW5kZW 50IGxpdmlu ZyBmYWNpbG l0aWVzLCBh bmQgbWVkaW NhbCBvZmZp Y2UgYnVpbG RpbmdzLiBU aGlzIGRpdm Vyc2lmaWNh dGlvbiBoZW xwcyBzcHJl YWQgcmlzay BhbmQgcHJv dmlkZXMgYS BzdGFibGUg aW5jb21lIG ZvciBpbnZl c3RvcnMuPG JyPjMuIEV4 cGVyaWVuY2 VkIG1hbmFn ZW1lbnQgdG VhbTogQ2Fy ZVRydXN0IF JFSVQgaXMg bWFuYWdlZC BieSBhIHRl YW0gb2YgZX hwZXJpZW5j ZWQgcHJvZm Vzc2lvbmFs cyB3aXRoIG V4dGVuc2l2 ZSBrbm93bG VkZ2UgYW5k IGV4cGVyaW VuY2UgaW4g dGhlIGhlYW x0aGNhcmUg YW5kIHJlYW wgZXN0YXRl IGluZHVzdH JpZXMuIFRo aXMgYWxsb3 dzIHRoZSBj b21wYW55IH RvIG1ha2Ug aW5mb3JtZW QgaW52ZXN0 bWVudCBkZW Npc2lvbnMg YW5kIGVmZm VjdGl2ZWx5 IG1hbmFnZS B0aGVpciBw b3J0Zm9saW 8uPGJyPjQu IFN0cm9uZy BmaW5hbmNp YWwgcGVyZm 9ybWFuY2U6 IFRoZSBjb2 1wYW55IGhh cyBhIHRyYW NrIHJlY29y ZCBvZiBzdH JvbmcgZmlu YW5jaWFsIH BlcmZvcm1h bmNlLCB3aX RoIGNvbnNp c3RlbnQgZ3 Jvd3RoIGlu IHJldmVudW UgYW5kIHBy b2ZpdGFiaW xpdHkuIFRo aXMgc3RhYm lsaXR5IGFu ZCBncm93dG ggcHJvdmlk ZSBhIHJlbG lhYmxlIGFu ZCBhdHRyYW N0aXZlIGlu dmVzdG1lbn Qgb3B0aW9u IGZvciBpbn Zlc3RvcnMu PGJyPjUuIE NvbW1pdG1l bnQgdG8gc3 VzdGFpbmFi aWxpdHk6IE NhcmVUcnVz dCBSRUlUIG lzIGNvbW1p dHRlZCB0by BzdXN0YWlu YWJpbGl0eS BhbmQgYWN0 aXZlbHkgd2 9ya3MgdG8g cmVkdWNlIG l0cyBlbnZp cm9ubWVudG FsIGltcGFj dC4gSXQgaG FzIGltcGxl bWVudGVkIG VuZXJneSBl ZmZpY2llbm N5IG1lYXN1 cmVzIGluIG l0cyBwcm9w ZXJ0aWVzIG FuZCBoYXMg YSB0YXJnZX QgdG8gcmVk dWNlIGl0cy BlbmVyZ3kg Y29uc3VtcH Rpb24gYnkg MTUlIGJ5ID IwMjUuPGJy PjYuIFNvY2 lhbCByZXNw b25zaWJpbG l0eTogVGhl IGNvbXBhbn kgYWxzbyBo YXMgYSBzdH JvbmcgZm9j dXMgb24gc2 9jaWFsIHJl c3BvbnNpYm lsaXR5LCB3 aXRoIGEgY2 9tbWl0bWVu dCB0byBwcm 92aWRpbmcg aGlnaC1xdW FsaXR5LCBh ZmZvcmRhYm xlIGhlYWx0 aGNhcmUgZm FjaWxpdGll cyBmb3IgdG hlIGNvbW11 bml0aWVzIG l0IHNlcnZl cy4gSXQgYW xzbyBzdXBw b3J0cyB2YX Jpb3VzIGNo YXJpdGFibG Ugb3JnYW5p emF0aW9ucy BhbmQgaW5p dGlhdGl2ZX MsIGRlbW9u c3RyYXRpbm cgaXRzIGNv bW1pdG1lbn QgdG8gbWFr aW5nIGEgcG 9zaXRpdmUg aW1wYWN0IG 9uIHNvY2ll dHku

VGhlIENhcm VUcnVzdCBS RUlUIGNvbX BhbnkncyBi dXNpbmVzcy Btb2RlbCBp cyB0byBhY3 F1aXJlLCBv d24sIGFuZC BsZWFzZSBz ZW5pb3IgaG 91c2luZyBh bmQgaGVhbH RoY2FyZSBw cm9wZXJ0aW VzIHRvIGEg dmFyaWV0eS BvZiB0ZW5h bnQgb3Blcm F0b3JzIGlu IHRoZSBVbm l0ZWQgU3Rh dGVzLiBUaG V5IGZvY3Vz IG9uIHByb3 BlcnRpZXMg dGhhdCBvZm ZlciBhc3Np c3RlZCBsaX ZpbmcsIHNr aWxsZWQgbn Vyc2luZywg YW5kIG1lbW 9yeSBjYXJl IHNlcnZpY2 VzLCBhbmQg dGFyZ2V0IG 9wcG9ydHVu aXRpZXMgZm 9yIGdyb3d0 aCBhbmQgZX hwYW5zaW9u IHRocm91Z2 ggdGhlaXIg YWNxdWlzaX Rpb24gYW5k IGRldmVsb3 BtZW50IHN0 cmF0ZWdpZX MuIENhcmVU cnVzdCBSRU lUIGdlbmVy YXRlcyBpbm NvbWUgdGhy b3VnaCByZW 50YWwgYW5k IGxlYXNlIH BheW1lbnRz IGZyb20gdG hlaXIgdGVu YW50cy4gVG hleSBhbHNv IGFpbSB0by Bwcm92aWRl IHF1YWxpdH kgY2FyZSBh bmQgc2Vydm ljZXMgdG8g dGhlaXIgdG VuYW50cyB0 aHJvdWdoIH RoZWlyIG9w ZXJhdGluZy BwYXJ0bmVy cywgaW4gb3 JkZXIgdG8g ZHJpdmUgb2 NjdXBhbmN5 IGFuZCBtYW ludGFpbiBz dHJvbmcgcm VsYXRpb25z aGlwcyB3aX RoIHRoZWly IHRlbmFudC BvcGVyYXRv cnMu

AI could potentially pose a threat to CareTrust REIT, which operates in the healthcare real estate investment trust sector, through several avenues.
1. Substitution: AI technologies could create alternative solutions for healthcare delivery and management, leading to changes in how patients access care. For instance, telemedicine and AI-driven health platforms might reduce the need for physical healthcare facilities. If patients rely more on virtual visits and home healthcare services, the demand for traditional healthcare facilities may decrease, impacting the performance of CareTrust’s properties.
2. Disintermediation: As AI tools provide patients with direct access to healthcare information and services, there could be a reduced reliance on traditional healthcare providers. This shift might disrupt the role of certain healthcare facilities that CareTrust invests in, potentially leading to lower occupancy rates and rental income for the REIT.
3. Margin Pressure: The introduction of AI into healthcare could lead to efficiency gains, reducing costs for providers. However, if these advancements result in lower reimbursement rates or increased competition, CareTrust’s tenants might face margin pressures. This could affect their ability to pay rent, ultimately impacting CareTrust’s revenue streams.
In summary, while AI presents opportunities for healthcare advancements, it also poses challenges that could affect CareTrust REIT’s business model, tenant performance, and overall competitive positioning in the market. The company will need to adapt to these changes to maintain its relevance and financial health in a potentially transforming landscape.

CareTrust REIT, like other real estate investment trusts (REITs), is sensitive to changes in interest rates due to several factors:
1. Earnings Impact: Rising interest rates can lead to higher borrowing costs for CareTrust, which could adversely affect its earnings. If the company has variable-rate debt, its interest payments would increase as rates rise, eating into net income.
2. Cash Flow Sensitivity: Cash flows may also be impacted because higher interest rates can lead to higher costs of capital. As financing becomes more expensive, the REIT’s ability to invest in growth or maintain properties could be restricted, potentially affecting cash flow generation.
3. Valuation Fluctuations: Interest rates have a significant influence on the capitalization rates used to value properties. When interest rates rise, investors generally demand higher returns on real estate investments, which can lead to a reduction in property values. This may result in a decline in the market value of CareTrust’s assets, thereby affecting its overall valuation.
4. Investor Sentiment: Higher interest rates can shift investor preferences away from equity-based real estate investments like REITs towards fixed-income investments that may offer better yields with lower risk. This shift can further depress CareTrust’s stock price, impacting perception and valuation.
In summary, changes in interest rates can have a multifaceted effect on CareTrust REIT’s earnings, cash flow, and valuation, primarily through increased borrowing costs, altered cash flow dynamics, and shifts in market perceptions.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgQ2 FyZVRydXN0 IFJFSVTigJ lzIGVjb25v bWljcyBvdm VyIHRoZSBu ZXh0IDPigJ M1IHllYXJz IGludm9sdm VzIHNpZ25p ZmljYW50IH JlZ3VsYXRv cnkgY2hhbm dlcyBhZmZl Y3RpbmcgdG hlIGhlYWx0 aGNhcmUgcm VhbCBlc3Rh dGUgaW52ZX N0bWVudCB0 cnVzdCAoUk VJVCkgc2Vj dG9yLCBwYX J0aWN1bGFy bHkgaW4gc2 tpbGxlZCBu dXJzaW5nIG ZhY2lsaXRp ZXMgKFNORn MpIGFuZCBh c3Npc3RlZC BsaXZpbmcg Y29tbXVuaX RpZXMuIEZv ciBpbnN0YW 5jZSwgaWYg dGhlIGZlZG VyYWwgZ292 ZXJubWVudC BlbmFjdHMg cmlnb3JvdX MgcmVndWxh dGlvbnMgYW ltZWQgYXQg cmVkdWNpbm cgcmVpbWJ1 cnNlbWVudH MgZm9yIE1l ZGljYXJlIG FuZCBNZWRp Y2FpZCBvci BpbXBvc2Vz IHN0cmljdG VyIG9wZXJh dGlvbmFsIH JlcXVpcmVt ZW50cyBvbi B0aGVzZSBm YWNpbGl0aW VzLCBpdCBj b3VsZCBoYX ZlIGEgY2Fz Y2FkaW5nIG VmZmVjdCBv biBDYXJlVH J1c3QgUkVJ VC48YnI+SW 4gdGhpcyBz Y2VuYXJpby wgbWFyZ2lu cyB3b3VsZC BsaWtlbHkg Y29udHJhY3 Qgc2lnbmlm aWNhbnRseS 4gQXMgcmVp bWJ1cnNlbW VudCByYXRl cyBkZWNsaW 5lLCB0aGUg b3BlcmF0b3 JzIG9mIHRo ZSBwcm9wZX J0aWVzIGlu IHdoaWNoIE NhcmVUcnVz dCBpbnZlc3 RzIG1heSBz dHJ1Z2dsZS B0byBtYWlu dGFpbiBwcm 9maXRhYmls aXR5LCBsZW FkaW5nIHRo ZW0gdG8gbm Vnb3RpYXRl IGxvd2VyIG xlYXNlIHBh eW1lbnRzIG 9yIGV2ZW4g ZGVmYXVsdC BvbiBleGlz dGluZyBsZW FzZXMuIFRo aXMgZXJvc2 lvbiBpbiBy ZW50YWwgaW 5jb21lIHdv dWxkIGNvbX ByZXNzIHRo ZSBjb21wYW 554oCZcyBt YXJnaW5zIG FuZCBjb3Vs ZCBjb21wZW wgQ2FyZVRy dXN0IHRvIH JlZXZhbHVh dGUgaXRzIG xlYXNlIHN0 cnVjdHVyZX MgYW5kIHBv dGVudGlhbG x5IGVuZ2Fn ZSBpbiBtb3 JlIGFnZ3Jl c3NpdmUgdG VuYW50IHN1 cHBvcnQgbW Vhc3VyZXMs IHN1Y2ggYX Mgb2ZmZXJp bmcgcmVudC Bjb25jZXNz aW9ucy48Yn I+Q2FzaCBm bG93IHdvdW xkIGFsc28g dGFrZSBhIH N1YnN0YW50 aWFsIGhpdC 4gRGVjbGlu aW5nIHJlbn RhbCByZXZl bnVlcyB3b3 VsZCBpbXBl ZGUgQ2FyZV RydXN04oCZ cyBhYmlsaX R5IHRvIGdl bmVyYXRlIG NvbnNpc3Rl bnQgY2FzaC BmbG93IGZy b20gaXRzIG 9wZXJhdGlv bnMsIHB1dH RpbmcgcHJl c3N1cmUgb2 4gaXRzIGFi aWxpdHkgdG 8gY292ZXIg ZGl2aWRlbm QgcGF5b3V0 cyBhbmQgc2 VydmljZSBp dHMgZGVidC 4gQSByZWR1 Y2VkIGNhc2 ggZmxvdyBj b3VsZCBsZW FkIHRvIGEg Zm9yY2VkIH JlZHVjdGlv biBpbiBkaX ZpZGVuZHMs IHdoaWNoIG 1pZ2h0IGFk dmVyc2VseS BhZmZlY3Qg aW52ZXN0b3 Igc2VudGlt ZW50IGFuZC B0aGUgY29t cGFueeKAmX Mgc3RvY2sg cHJpY2UuPG JyPkluIHRl cm1zIG9mIH RoZSBiYWxh bmNlIHNoZW V0LCBhIHN1 c3RhaW5lZC Bjb250cmFj dGlvbiBpbi BpbmNvbWUg Y291bGQgcm VzdWx0IGlu IGEgaGlnaG VyIGRlYnQt dG8tZXF1aX R5IHJhdGlv LiBJZiBDYX JlVHJ1c3Qg aXMgdW5hYm xlIHRvIGFk anVzdCBpdH Mgb3BlcmF0 aW5nIHN0cm F0ZWdpZXMg aW4gcmVzcG 9uc2UgdG8g cmVkdWNlZC BjYXNoIGZs b3csIGl0IG 1heSByZXNv cnQgdG8gaW 5jcmVhc2lu ZyBsZXZlcm FnZSB0byBm aW5hbmNlIG 9uZ29pbmcg b3BlcmF0aW 9ucyBvciB0 byBicmlkZ2 UgaW5jb21l IGdhcHMsIG xlYWRpbmcg dG8gYSByaX NraWVyIGNh cGl0YWwgc3 RydWN0dXJl LiBBZGRpdG lvbmFsbHks IGxvd2VyIG Fzc2V0IHZh bHVlcyBhc3 NvY2lhdGVk IHdpdGggdG hlIHByb3Bl cnRpZXMgY2 91bGQgaW1w YWlyIHRoZS BvdmVyYWxs IGJhbGFuY2 Ugc2hlZXQg c3RyZW5ndG ggYW5kIHJl c3VsdCBpbi Bwb3RlbnRp YWwgYXNzZX Qgd3JpdGUt ZG93bnMuPG JyPkluIHN1 bW1hcnksIG lmIHNpZ25p ZmljYW50IG FuZCBsYXN0 aW5nIHJlZ3 VsYXRvcnkg Y2hhbmdlcy BvY2N1ciwg Q2FyZVRydX N0IFJFSVQg Y291bGQgZm FjZSB0aWdo dGVyIG1hcm dpbnMsIHdl YWtlbmVkIG Nhc2ggZmxv dywgYW5kIG EgZGV0ZXJp b3JhdGVkIG JhbGFuY2Ug c2hlZXQsIH VsdGltYXRl bHkgaGluZG VyaW5nIGl0 cyBvcGVyYX Rpb25hbCB2 aWFiaWxpdH kgYW5kIHNo YXJlaG9sZG VyIHJldHVy bnMuPGJyPg ==

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvMV BxQjJ4UEUz RG5OYUxKUD VuU2gud2Vi cCIgYWx0PS JDYXJlVHJ1 c3QgUkVJVC IgdGl0bGU9 IkNhcmVUcn VzdCBSRUlU IiAgY2xhc3 M9ImltZy1m bHVpZCIgaG VpZ2h0PTUw IHdpZHRoPT UwIGxvYWRp bmc9J2xhen knIHN0eWxl PSdib3JkZX ItcmFkaXVz OiA2cHg7Jz 4KCiAgICAg ICAgICAgIC AgICAgICAg PGRpdiBzdH lsZT0nZmxl eDogMTsgdG V4dC1hbGln bjogY2VudG VyOyBtYXJn aW4tbGVmdD ogNXB4Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdmb2 50LXNpemU6 IDI2cHg7IG NvbG9yOiAj MzMzOyBtYX JnaW4tYm90 dG9tOiAxNX B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICDwn5OI IFdhbnQgdG 8gcmVhZCBt b3JlIGFib3 V0IENhcmVU cnVzdCBSRU lUPwogICAg ICAgICAgIC AgICAgICAg ICAgICA8L3 A+CgogICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdp bmRleC5waH A/cGFnZT1z aWdudXAnIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJh Y2tncm91bm QtY29sb3I6 ICMwMDdCRk Y7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bjb2xvcjog I2ZmZjsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHBhZG Rpbmc6IDEw cHggMjBweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JvcmRlci1y YWRpdXM6ID VweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHRleHQt ZGVjb3JhdG lvbjogbm9u ZTsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGZvbnQtd2 VpZ2h0OiBi b2xkOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgbWFyZ2 luLXJpZ2h0 OiAxMHB4Ow ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdH JhbnNpdGlv bjogYmFja2 dyb3VuZC1j b2xvciAwLj NzIGVhc2U7 JwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg b25tb3VzZW 92ZXI9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA1 NmIzIicKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIG9ubW 91c2VvdXQ9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA3QkZGIi c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IGZvciBmcm VlCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvYT 4KCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxzcG FuIHN0eWxl PSdtYXJnaW 46IDAgOHB4 OyBjb2xvcj ogIzU1NTsn Pm9yPC9zcG FuPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPG EgaHJlZj0n aW5kZXgucG hwP3BhZ2U9 bG9naW4nIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGNv bG9yOiAjMD A3QkZGOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdGV4 dC1kZWNvcm F0aW9uOiB1 bmRlcmxpbm U7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bmb250LXdl aWdodDogNT AwOyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBsb2cg aW4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9h PgoKCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dtYXJnaW4t dG9wOiAxNX B4OyBmb250 LXNpemU6ID EzcHg7IGZv bnQtd2VpZ2 h0OiBib2xk OyBjb2xvcj ogI2QzMmYy ZjsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+ZjC BKb2luIG5v dyB0byBnZX QgPGk+IlRo ZSBDaGVja2 xpc3QgVmFs dWUgSW52ZX N0b3Ig4oCU IEEgU21hcn RlciBXYXkg dG8gUGljay BTdG9ja3Mi PC9pPiBhdC BubyBjb3N0 CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvcD4K CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwhLS0K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGRpdiBz dHlsZT0nbW FyZ2luLXRv cDogMTJweD sgZm9udC1z aXplOiAxM3 B4OyBjb2xv cjogIzQ0ND snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgU2lnbiB1 cCBub3cgYW 5kIGdldCBv dXIgZnJlZS BlQm9vayAK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIDxi PlRoZSBDaG Vja2xpc3Qg VmFsdWUgSW 52ZXN0b3Ig 4oCUIEEgU2 1hcnRlciBX YXkgdG8gUG ljayBTdG9j a3M8L2I+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAgIC AgICAgICAg ICAtLT4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PCEtLQogIC AgICAgICAg ICAgICAgIC AgICAgICA8 ZGl2IHN0eW xlPSdtYXJn aW4tdG9wOi AxNnB4OyBm b250LXNpem U6IDE0cHg7 IGNvbG9yOi AjNDQ0OyBm b250LWZhbW lseTogLWFw cGxlLXN5c3 RlbSwgQmxp bmtNYWNTeX N0ZW1Gb250 LCBTZWdvZS BVSSwgUm9i b3RvLCBIZW x2ZXRpY2Eg TmV1ZSwgc2 Fucy1zZXJp ZjsgbGluZS 1oZWlnaHQ6 IDEuNjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgSG F2ZSB5b3Ug aGVhcmQgYW JvdXQgb3Vy IHNob3J0ID xzdHJvbmcg c3R5bGU9J2 ZvbnQtd2Vp Z2h0OiA2MD A7Jz5EYWls eSBWaWRlby BOZXdzbGV0 dGVyPC9zdH Jvbmc+Pwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgPGEg aHJlZj0naH R0cHM6Ly93 d3cuaW5zaW dodGZ1bHZh bHVlLmNvbS 9uZXdzbGV0 dGVyLnBocC cgdGFyZ2V0 PSdfYmxhbm snIHN0eWxl PSdjb2xvcj ogIzAwN0JG RjsgdGV4dC 1kZWNvcmF0 aW9uOiBub2 5lOyBmb250 LXdlaWdodD ogNTAwOyBt YXJnaW4tbG VmdDogNnB4 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgRm luZCBvdXQg bW9yZQogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9hPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgLS0+Ci AgICAgICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgIAog ICAgICAgIA ogICAgICAg IDxzcGFuIG NsYXNzPSdi bHVycmVkLX RleHQnPgog ICAgICAgIC AgICBNUzRn UTJGeVpWIF J5ZFhOMElG SkYgU1ZRZ2 FYTWdZUyBC eVpXRnNJR1 Z6IGRHRjBa U0JwYm4gWm xjM1J0Wlc1 MCBJSFJ5ZF hOMElDIGhT UlVsVUtTQj AgYUdGMElI TndaVyBOcF lXeHBlbVZ6 IElHbHVJR2 hsWVcgeDBh R05oY21VZy BjSEp2Y0dW eWRHIGxsY3 k0OFluSSsg TWk0Z1ZHaG xJRyBOdmJY QmhibmtnIG QyRnpJR1p2 ZFcgNWtaV1 FnYVc0ZyBN akF4TkNCaG JtIFFnYVhN Z2FHVmggWk hGMVlYSjBa WCBKbFpDQn BiaUJUIFlX NGdRMnhsYl cgVnVkR1Vz SUVOaCBiR2 xtYjNKdWFX IEV1UEdKeV BqTXUgSUVO aGNtVlVjbi BWemRDQlNS VWxVIDRvQ1 pjeUJ3YjMg SjBabTlzYV c4ZyBZMjl1 YzJsemRIIE 1nYjJZZ2Iz WmwgY2lBeU 16QWdjSCBK dmNHVnlkR2 xsIGN5d2dh VzVqYkggVm thVzVuSUhO ciBhV3hzWl dRZ2JuIFZ5 YzJsdVp5Qm 0gWVdOcGJH bDBhVyBWek xDQmhjM05w IGMzUmxaQ0 JzYVggWnBi bWNnWm1Gai BhV3hwZEds bGN5IHdnYV c1a1pYQmwg Ym1SbGJuUW diRyBsMmFX NW5JR1poIF kybHNhWFJw WlggTXNJR0 Z1WkNCbyBi M053YVhSaG JIIE11UEdK eVBqUXUgSU ZSb1pTQmpi MiAxd1lXNT U0b0NaIGN5 QndjbTl3Wl ggSjBhV1Z6 SUdGeSBaU0 JzYjJOaGRH IFZrSUdsdU lETTMgSUhO MFlYUmxjeS BCaGJtUWdi M0JsIGNtRj BaV1FnWW4g a2dORFFnWk dsbSBabVZ5 Wlc1MElIIF JsYm1GdWRI TXUgUEdKeV BqVXVJRSBO aGNtVlVjbl Z6IGRDQlNS VWxVNG8gQ1 pjeUJtYjJO MSBjeUJ2Ym lCb1pXIEZz ZEdoallYSm wgSUhCeWIz QmxjbiBScF pYTWdZV3hz IGIzZHpJR1 p2Y2kgQnNi MjVuTFhSbC BjbTBnYkdW aGMyIFZ6SU dGdVpDQnog ZEdGaWJHVW dZMiBGemFD Qm1iRzkzIG N5NDhZbkkr TmkgNGdWR2 hsSUdOdiBi WEJoYm5uaW dKIGx6SUhO MGIyTnIgSU dseklIUnlZ VyBSbFpDQn ZiaUIwIGFH VWdUbUZ6Wk cgRnhJSFZ1 WkdWeSBJSF JvWlNCMGFX IE5yWlhJZ2 MzbHQgWW05 c0lFTlVVay BVdVBHSnlQ amN1IElFTm hjbVZVY24g VnpkQ0JTUl VsVSBJR2ho Y3lCaElHID FoY210bGRD QmogWVhCcG RHRnNhWCBw aGRHbHZiaU J2IFppQnZk bVZ5SUMgUX lMalVnWW1s cyBiR2x2Ym lCaGN5IEJ2 WmlBeU1ESX ggTGp4aWNq NDRMaSBCVW FHVWdZMjl0 IGNHRnVlU0 JvWVggTWdZ Mjl1YzJsei BkR1Z1ZEd4 NUlHIEpsWl c0Z2NtVmog YjJkdWFYcG xaQyBCbWIz SWdhWFJ6IE lITjBjbTl1 WnkgQmpiM0 p3YjNKaCBk R1VnWTNWc2 RIIFZ5WlNC aGJtUWcgWl cxd2JHOTVa VyBVZ2MyRj BhWE5tIFlX TjBhVzl1TG ogeGljajQ1 TGlCRCBZWE psVkhKMWMz IFFnVWtWSl ZDQm8gWVhN Z1lTQm9hWC BOMGIzSjVJ RzltIElHTm 9ZWEpwZEcg RmliR1VnWj JsMiBhVzVu TENCemRYIE J3YjNKMGFX NW4gSUhaaG NtbHZkWCBN Z2IzSm5ZVz VwIGVtRjBh Vzl1Y3kgQm hibVFnWTJG MSBjMlZ6SU hKbGJHIEYw WldRZ2RHOG cgYUdWaGJI Um9ZMiBGeV pTQmhibVFn IFlXWm1iM0 prWVcgSnNa U0JvYjNWei BhVzVuTGp4 aWNqIDR4TU M0Z1ZHaGwg SUdOdmJYQm hibiBrZ2FH RnpJR0VnIF oyOWhiQ0Iw YnkgQmxlSE JoYm1RZyBh WFJ6SUhCdm NuIFJtYjJ4 cGJ5QjAgYn lBek1EQWdj SCBKdmNHVn lkR2xsIGN5 QmllU0F5TU QgSTFJSFJv Y205MSBaMm dnYzNSeVlY IFJsWjJsak lHRmogY1hW cGMybDBhVy A5dWN5Qmhi bVFnIGNHRn lkRzVsY24g Tm9hWEJ6TG c9PQogICAg ICAgIDwvc3 Bhbj4KICAg ICAgICAKIC AgICAgICA=