Caretrust Stock Price, News & Analysis

CareTrust REIT (NASDAQ:CTRE) announced the acquisition of four post-acute care facilities in the Dallas-Ft. Worth area for $47.6 million. The portfolio includes 554 skilled nursing beds and 24 assisted living beds, currently leased to The Ensign Group. With an in-place EBITDAR rent coverage exceeding 2.0x, this strategic acquisition increases CareTrust's rent concentration with Ensign from 31.5% to 33.0%. The acquisition is funded through cash on hand and a $600 million credit facility, with existing leases providing approximately $3.8 million annually.

CareTrust REIT (CTRE) reported Q3 2020 results with net income of $21.6 million ($0.23/share) and normalized FFO of $32.5 million ($0.34/share). The company maintains a net debt-to-normalized EBITDA ratio of 3.1x, well within its target range. CareTrust acquired two skilled nursing facilities for $16.6 million, enhancing its portfolio. The company increased its 2020 guidance, projecting net income of $0.83 to $0.84 per share. A quarterly dividend of $0.25 was declared, maintaining a payout ratio of 74%.

CareTrust REIT, Inc. (NASDAQ:CTRE) will release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call is scheduled for November 6, 2020, at 2:00 p.m. ET for management to discuss the results. Investors can participate via phone or listen online. CareTrust REIT focuses on the ownership, acquisition, development, and leasing of healthcare-related properties across the U.S., aiming for both external growth and organic expansion. For more information, visit their website.

CareTrust REIT (NASDAQ: CTRE) has declared a quarterly cash dividend of $0.25 per share, payable on or about October 15, 2020, to stockholders of record by September 30, 2020. The company increased its annual dividend by approximately 11% in March 2020, demonstrating resilience amidst COVID-19 uncertainties. CareTrust reported a strong cash rent collection rate of 99% for both August and September 2020. Chairman and CEO Greg Stapley assured that the dividend remains secure, emphasizing the company's conservative payout ratio.

CareTrust REIT (CTRE) has acquired two skilled nursing facilities in Montana for $16.5 million, marking its first acquisition during the Covid-19 pandemic. The facilities, Apple Rehab Cooney and Elkhorn Healthcare & Rehabilitation, will be operated by Eduro Healthcare, known for its strong operational track record. The deal is expected to increase annual cash rent by approximately $1.55 million under an existing master lease with a term of 9.5 years. This strategic acquisition highlights CareTrust's commitment to growth in the healthcare sector.

CareTrust REIT (CTRE) reported solid operating results for Q2 2020, with net income of $18.9 million ($0.20 per share) and normalized FFO of $32.1 million ($0.34 per share). Despite a decline in overall occupancy, the shift to higher-margin skilled patients has provided revenue support. The company maintained a net debt-to-normalized EBITDA ratio of 3.2x and has over $20 million in cash. CareTrust kept its 2020 guidance unchanged, projecting net income of $0.76 to $0.78 per share. A quarterly dividend of $0.25 per share was declared, remaining consistent with prior payouts.

CareTrust REIT (NASDAQ: CTRE) will announce its Q2 2020 financial results on August 6, 2020, post-market. A conference call for discussion will occur on August 7, 2020, at 1:00 p.m. ET. Investors can join via the dial-in number (844) 220-4972 (U.S./Canada) or (317) 973-4053 (International) with conference ID 9259158. The call will also be accessible through a webcast on CareTrust's investor website. CareTrust REIT is focused on the ownership and leasing of healthcare-related properties and is pursuing growth opportunities across the U.S.

CareTrust REIT (NASDAQ:CTRE) declared a quarterly cash dividend of $0.25 per common share, equating to a 71% payout ratio based on 2020 Q1 Funds Available for Distribution. CEO Greg Stapley noted a strong cash rent collection rate of 99.5% for June and the second quarter, indicating the security of the increased dividend. The dividend will be paid on July 15, 2020 to stockholders of record by June 30, 2020.

CareTrust REIT (CTRE) reported Q1 2020 results, showing a net income of $19.3 million or $0.20 per diluted share. Normalized funds from operations (FFO) reached $32.3 million ($0.34 per share), with normalized funds available for distribution (FAD) at $33.7 million ($0.35 per share). The company collected 99.3% of contract rents in April despite challenges from the COVID-19 pandemic. CareTrust increased its dividend to $0.25 and announced a $150 million share repurchase program. The company maintains a strong liquidity position with $525 million available on its credit line.