CareTrust REIT Raises Quarterly Dividend to $0.265 per Share

CareTrust REIT (CTRE) announced an increase in its quarterly cash dividend from $0.25 to $0.265 per share.

Rhea-AI Summary

CareTrust REIT (CTRE) announced an increase in its quarterly cash dividend from $0.25 to $0.265 per share. The dividend is payable to stockholders of record by March 31, 2021, and will be disbursed on or around April 15, 2021. The Chairman and CEO, Greg Stapley, highlighted the addition of $105.2 million in assets at an 8.9% yield during 2020, enabling a 6.0% annualized dividend increase. This decision reflects the company's strategy to align dividends with asset growth while maintaining a conservative payout ratio.

Positive

• Dividend increase from $0.25 to $0.265 per share.
• $105.2 million in newly-acquired assets at an 8.9% yield.
• 6.0% annualized increase aligns with asset and earnings growth.

Negative

• None.

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News Market Reaction – CTRE

The recorded move for CTRE in the trading session of this news was +3.77%.

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SAN CLEMENTE, Calif., March 15, 2021 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that its Board of Directors has increased its quarterly common stock cash dividend from $0.25 to $0.265 per common share. The current dividend will be payable to common stockholders of record as of the close of business on March 31, 2021. The company confirmed that plans to pay the dividend on or about April 15, 2021.

“We are pleased to be able to raise the dividend in spite of the particularly difficult circumstances of the past year for both real estate and healthcare companies,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. Mr. Stapley noted that the company added $105.2 million in newly-acquired assets at an approximately 8.9% yield in 2020, facilitating the 6.0% annualized increase. “The size of dividend increase is consistent with our longstanding practice of matching dividends to asset and earnings growth, while retaining capital for expansion and keeping our payout ratio in a conservative range,” he added.

About CareTrust REIT™

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.

Contact:
CareTrust REIT, Inc.
(949) 542-3130
ir@caretrustreit.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new dividend amount for CareTrust REIT (CTRE)?

The new dividend amount for CareTrust REIT is $0.265 per share.

When will CareTrust REIT (CTRE) pay the new dividend?

The new dividend will be paid on or about April 15, 2021.

What is the record date for the dividend payment of CareTrust REIT (CTRE)?

The record date for the dividend payment is March 31, 2021.

How much did CareTrust REIT (CTRE) invest in new assets in 2020?

CareTrust REIT invested $105.2 million in newly-acquired assets in 2020.

What was the yield on the new assets acquired by CareTrust REIT (CTRE)?

The yield on the newly-acquired assets was approximately 8.9%.