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 (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.
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