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 (NYSE: CTRE) has acquired a portfolio of 5 skilled nursing facilities in the Southeastern U.S. for approximately $80.9 million, including transaction costs. The acquisition involves a new triple-net master lease with YAD Healthcare, featuring a 10-year initial term, two 5-year extension options, and a first-year lease yield of 9%. The deal was funded with cash on hand. Additionally, CareTrust provided $99 million in portfolio acquisition financing to a regional operator, bringing year-to-date investments to $386 million and the investment pipeline to $460 million.
The company issued 2.5 million shares at $24.90 each, generating $62.3 million in gross proceeds and now holds $230 million in cash. The outstanding share count stands at 144.6 million.
CareTrust REIT Announces First Quarter 2024 Operating Results
CareTrust REIT, Inc. (NYSE:CTRE) reported investments of $118.8 million for the quarter and $206.5 million year-to-date with a stabilized yield of 11.1% and 10.5%, respectively. They sold 11.6 million shares for $273.2 million, collected 98.0% of rent, earned $28.7 million in net income, and had a 3.6% dividend increase. CareTrust updated guidance for 2024, projecting net income of $1.01-$1.03 per share, normalized FFO of $1.42-$1.44, and normalized FAD of $1.46-$1.48 with a conference call scheduled on May 3, 2024.
CareTrust REIT, Inc. (NYSE:CTRE) funded a $26.7 million mortgage loan for a 2-asset skilled nursing portfolio in Tennessee. The facilities will be operated by The Ensign Group, Inc. The company reported a $260 million investment pipeline and $273 million Q1 ATM activity.
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