Welcome to our dedicated page for Caretrust news (Ticker: CTRE), a resource for investors and traders seeking the latest updates and insights on Caretrust stock.
CareTrust REIT, Inc. owns, acquires, develops and leases healthcare-related real estate, including skilled nursing facilities, seniors housing and care homes. The self-administered REIT generates rental revenue through long-term net-leased properties operated by healthcare providers, with a portfolio spanning the United States and the United Kingdom.
Company news commonly covers operating results, Normalized FFO and FAD guidance, dividend declarations, portfolio acquisitions, sale-leaseback investments, secured operator loans, tenant relationships and credit ratings. Updates also address balance-sheet capacity, debt maturities, revolving credit and common-equity funding programs used to support healthcare real estate growth.
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.
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CareTrust REIT, Inc. (NYSE:CTRE) has successfully completed the sale of seven skilled nursing facilities in Ohio for $52 million. This transaction results in the termination of the company’s master lease with Trio Healthcare. The facilities encompass around 600 skilled nursing beds and approximately 100 seniors housing beds. CEO Dave Sedgwick emphasized the significance of this achievement in the context of their strategy to de-risk the portfolio, with plans to address the remaining 25 properties by year-end.
CareTrust REIT (NYSE:CTRE) has declared a quarterly cash dividend of $0.275 per share for common stockholders. This dividend is payable on or about October 14, 2022 to stockholders of record by the close of business on September 30, 2022. As a publicly traded real estate investment trust, CareTrust REIT focuses on the ownership and leasing of healthcare-related properties, enhancing its portfolio across the United States.
CareTrust REIT, Inc. (NYSE:CTRE) announced a $24.9 million B-piece secured financing for a portfolio of four skilled nursing assets located in the Southeast, comprising around 700 beds. The loan has a three-year maturity with two one-year extensions and an annual interest rate of 9.00%. Funded with cash on hand, this financing marks the beginning of a new partnership with a Southeast operator, with plans to explore further growth opportunities through acquisitions and leaseback activities.
CareTrust REIT (NYSE:CTRE) reported its Q2 2022 results, achieving 93.9% of contractual rents collected. The company posted a net income of $20.7 million ($0.21/share) and normalized FFO of $35.6 million ($0.37/share), reflecting a 0.7% and 1.7% decline year-over-year, respectively. The quarterly dividend was maintained at $0.275 per share, with a 71% payout ratio on normalized FAD. CareTrust’s management noted challenges from inflation and rising rates but sees opportunities in the skilled nursing sector. A conference call is scheduled for August 5, 2022.
CareTrust REIT (NYSE:CTRE) has announced a $22.25 million secured loan for acquiring a five-asset skilled nursing portfolio in California, comprising around 600 beds. This loan features a three-year maturity with two optional one-year extensions and an annual SOFR-based interest rate starting at 8.5%. CEO Dave Sedgwick expressed enthusiasm for the acquisition, highlighting the strong relationships with the borrower and operators, as well as the strategic location of the facilities within premier California markets.