Caretrust Stock Price, News & Analysis

CareTrust REIT (CTRE) reported Q2 2021 results revealing a 12.6% increase in net income to $21.3 million and an 11.4% rise in normalized FFO to $35.8 million. The company maintained a quarterly dividend of $0.265 per share, with a payout ratio of 66% on normalized FAD. The occupancy rate for skilled nursing facilities improved to 69.9%, while assisted living remained steady. A $400 million bond issuance was completed, allowing for the redemption of 2025 notes. 2021 guidance was updated, projecting normalized FFO at $1.48 to $1.50 per share.

CareTrust REIT (Nasdaq: CTRE) announced the acquisition of two skilled nursing facilities in the Austin, Texas area for approximately $32.5 million. The Sedona Trace Health & Wellness Center and Cedar Pointe Health & Wellness Center are now under the management of The Ensign Group (Nasdaq: ENSG). This deal extends the lease term by ten years and includes a $5 million upfront rent reduction, with an annual cash rent increase of around $2.2 million, resulting in an initial cash yield of approximately 8.0%. The acquisition was funded through CareTrust's $600 million unsecured revolving credit facility.

CareTrust REIT (NASDAQ:CTRE) will announce its Q2 2021 financial results on August 5, 2021, after market close. A conference call is scheduled for the following day, August 6, 2021, at 1:00 p.m. ET, for management to discuss the results. Investors can participate via dial-in or listen to the webcast on the company's Investor Relations page. CareTrust REIT specializes in real estate investment related to healthcare, focusing on skilled nursing and seniors housing properties across the U.S.

CareTrust REIT (NASDAQ:CTRE) announced a quarterly cash dividend of $0.265 per common share, payable on or about July 15, 2021. This dividend is for shareholders of record by the close of business on June 30, 2021. CareTrust REIT is engaged in the ownership, acquisition, and leasing of skilled nursing and healthcare-related properties across the U.S. The company is focused on both external and organic growth opportunities in the healthcare real estate sector.

CareTrust REIT, Inc. (NASDAQ:CTRE) has unveiled a new investor presentation and business update at NAREIT’s REITweek 2021 Investor Conference. David Sedgwick, the President and COO, will present this during the conference at 4:30 pm Eastern time. The presentation is accessible under the “Events and Presentations” section on CareTrust’s investor website. CareTrust REIT specializes in owning, acquiring, developing, and leasing healthcare-related properties, including skilled nursing and senior housing, and aims for organic growth and strategic acquisitions nationwide.

CareTrust REIT, Inc. (Nasdaq: CTRE) has announced the pricing of a private offering of $400 million senior unsecured notes due 2028. The notes will yield an interest rate of 3.875% and will mature on June 30, 2028. Net proceeds from the offering are estimated at $394 million, which will be used to redeem existing 5.25% Senior Notes due 2025 and to reduce outstanding borrowings under its revolving credit facility. The closing is expected on June 17, 2021, contingent on customary conditions.

CareTrust REIT (CTRE) has approved a request from Five Oaks Healthcare to transfer operations of four skilled nursing facilities to affiliates of The Ensign Group (ENSG), effective June 1, 2021. This transaction adds the facilities to an existing long-term triple-net master lease, which has been extended by ten years to 2036. Ensign now accounts for approximately 32.4% of CareTrust's annualized rental revenues as of March 31, 2021, with lease coverage improving to 3.62x. This partnership reflects CareTrust's strategy to reduce tenant concentration while still benefiting from Ensign's strong performance.

CareTrust REIT (Nasdaq: CTRE) announced a private offering of $400 million in senior unsecured notes due in 2028. This offering is expected to appeal to qualified institutional buyers and non-U.S. persons. Proceeds will mainly be used to redeem 5.25% Senior Notes due 2025 and for repaying a portion of the revolving credit facility. The exact terms will depend on market conditions. The notes will not be registered under the Securities Act, and this announcement does not constitute an offer to sell securities.

CareTrust REIT (CTRE) reported strong operating results for Q1 2021, with 100% of contractual rents collected. The company posted a net income of $20.5 million ($0.21 per share), marking a 5.0% increase from the previous year. Normalized FFO and FAD also saw increases of 5.5% and 7.4%, respectively. CareTrust increased its dividend to $1.06 per share, with a payout ratio of 70%. The company forecasts normalized FFO of $1.46 to $1.48 and has made significant acquisitions totaling $151.7 million this year.