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 (NASDAQ:CTRE) announced it will release its fourth quarter and full year 2020 financial results on February 10, 2021, after U.S. markets close. The company will host a conference call to discuss the results on February 11, 2021, at 1:00 p.m. ET. Investors can participate via phone or listen online. CareTrust REIT focuses on owning and leasing skilled nursing and healthcare-related properties, emphasizing growth through acquisitions and quality operators. Further information is accessible on their investor website.
CareTrust REIT (NASDAQ:CTRE) disclosed the tax status of its 2020 dividends, reporting a total of $1.00 distributed to shareholders, with $0.75 qualifying as ordinary dividends. For tax purposes, the January 2021 distribution is classified as a 2021 distribution due to earnings exceeding cash distributions in 2020. Record shareholders will see $0.25 reported in 2021, not 2020. Tax implications vary by state, and the company advises consulting tax advisors regarding reporting these dividends.
On December 17, 2020, CareTrust REIT (NASDAQ:CTRE) declared a quarterly cash dividend of $0.25 per share, to be paid on or about January 15, 2021, to shareholders of record as of December 31, 2020. Despite the challenges posed by the COVID-19 pandemic, the company reported a 99.7% collection rate of its contractual cash rents for the fourth quarter. This strong performance highlights the adaptability and resilience of CareTrust's tenants in a difficult economic climate.
CareTrust REIT (NASDAQ:CTRE) announced a $15 million secured mezzanine loan to Next Healthcare for acquiring a nine-property skilled nursing portfolio in Virginia, comprising around 1,000 beds. This transaction aims to bolster relationships and aligns with CareTrust's investment philosophy of enhancing superior care outcomes. The loan features a five-year maturity with a 12% annual interest rate and is financed through CareTrust’s $600 million unsecured revolving credit facility.
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.