Caretrust Stock Price, News & Analysis

CareTrust REIT (NYSE:CTRE) plans to announce its fourth quarter and full year 2022 financial results on February 9, 2023, after U.S. markets close. Management will discuss these results in a conference call on February 10, 2023, at 1:00 p.m. Eastern Time. Investors can participate via a toll-free number or listen online through a webcast. CareTrust REIT is a publicly-traded real estate investment trust that focuses on skilled nursing and seniors housing, with a growing portfolio across the United States. More details are available on their investor website.

CareTrust REIT (NYSE:CTRE) announced the tax status of its 2022 dividends. Shareholders of record will receive IRS Form 1099-DIV from Broadridge Corporate Issuer Solutions detailing dividend classifications, including ordinary and qualified dividends. The total cash distributions for 2022 amounted to $1.3650 per share. Notably, due to exceeding earnings and profits, the January 2023 distribution will be treated as a 2023 distribution, resulting in $0.275 reported for 2023 Form 1099. Shareholders are advised to consult tax advisors for proper reporting.

CareTrust REIT, Inc. (NYSE:CTRE) announced the successful sale of five senior housing facilities in Virginia for $13 million, totaling approximately 240 units. This transaction aligns with the company’s strategy to de-risk its portfolio. CEO Dave Sedgwick emphasized the effort to close the sale by year-end, even amid challenging market conditions. The sold properties were removed from the company's master lease with Noble Senior Services, and plans are underway for the remaining facilities pending sale or re-tenanting.

CareTrust REIT, Inc. (NYSE: CTRE) has renewed its unsecured revolving credit facility, extending the maturity to February 2027. CEO Dave Sedgwick expressed gratitude for the bank group's support during tough credit conditions, highlighting that this facility is crucial for future acquisitions. The amended facility features grid-based pricing tied to adjusted SOFR, with a potential accordion feature allowing an additional $500 million in capacity, subject to standard terms.

CareTrust REIT has declared a quarterly cash dividend of $0.275 per common share, with a record date of December 30, 2022. The dividend is set to be paid on or about January 13, 2023. This distribution reflects the company's commitment to return value to its shareholders. CareTrust REIT focuses on real estate investments in the healthcare sector, including skilled nursing and senior housing, with an aim for organic and external growth across the United States.

The Board of Directors of CareTrust REIT (NYSE:CTRE) announced the appointment of James Callister as the new Chief Investment Officer effective December 31, 2022. He succeeds Mark Lamb, who is leaving to pursue entrepreneurial opportunities. Mr. Callister has been with CareTrust as Executive Vice President and has significant experience in healthcare REIT transactions, having closed over $2.5 billion in acquisitions. Both the CEO and Mark Lamb expressed confidence in Callister's leadership and the company's growth prospects moving forward.

CareTrust REIT (CTRE) reported Q3 2022 results, highlighting 93.4% of contractual rents collected and a net income of $0.7 million, or $0.01 per share. The normalized FFO reached $36.1 million, with a dividend of $0.275 per share, a 71% payout ratio on normalized FAD. For the quarter, skilled nursing occupancy increased by 0.7%, while seniors housing occupancy grew by 1.7%. The company also announced the sale of the Trio skilled nursing portfolio for $52 million and successfully financed two skilled nursing portfolios worth over $47 million, indicating a stable operational environment. A conference call is scheduled for November 9.

CareTrust REIT (NYSE:CTRE) plans to release its Q3 2022 financial results on November 8, 2022, after U.S. market close. The management team will host a conference call on November 9, 2022, at 1:00 PM ET to discuss the results. Investors can join the call through a toll-free number or access it via webcast on their website. CareTrust REIT focuses on the acquisition and leasing of healthcare-related properties across the U.S., aiming for both organic and external growth in its operations.