CareTrust Publishes Third Annual Corporate Sustainability Report

Rhea-AI Summary

CareTrust REIT announces progress in its Corporate Sustainability report, highlighting key initiatives such as climate risk assessment, environmental improvement projects, and engagement with cybersecurity firm.

Positive

• CareTrust REIT demonstrates advancements in several key initiatives, including a portfolio-wide physical climate risk assessment and funding of environmental improvement projects through tenant incentive program.

Negative

• None.

SAN CLEMENTE, Calif.--(BUSINESS WIRE)-- CareTrust REIT, Inc. (NYSE: CTRE) today announced details of progress the company made toward its Environmental, Social, and Governance (ESG) initiatives in its third annual Corporate Sustainability report. The report demonstrates how CareTrust, with properties exclusively controlled and operated by tenants under triple-net master leases can track, educate, and promote sustainable operating decisions.

“This report showcases our advancements in several key initiatives over a short period of time,” said Dave Sedgwick, President and CEO of CareTrust REIT. Highlights of the report include the following:

• A portfolio-wide physical climate risk assessment
• Integration of our ESG checklist into the acquisition process
• Funding of several environmental improvement projects through our tenant incentive program
• Development and implementation of our triple net “Green Lease”
• The commencement of Waste Tracking
• Continued investment in professional development
• Alignment of the CS Report in reference to the Global Reporting Initiative Standards
• Engagement with Cybersecurity firm to safeguard company data

“This report, among many initiatives, shows our alignment with the Global Reporting Initiative Standards and answers the question of how a landlord, with unique triple-net lease constraints can make meaningful progress across an array of corporate responsibilities,” Mr. Sedgwick said.

Operators at CareTrust facilities are able to participate in various ESG initiatives that strengthen their day-to-day operations while improving working conditions for staff and upholding higher standards in care for patients and residents. CareTrust relies exclusively on triple-net master leases and capital expenditures funded for properties which make the initiatives possible. CareTrust is not considered a Seniors Housing Operating Portfolio (SHOP) nor designed under the REIT Investment Diversification and Empowerment Act (RIDEA) model—making its ESG Program unique, innovative, and optimized to reduce risk while maximizing improvements for its tenant-operators who embrace the program’s principles and objectives.

The Annual Corporate Sustainability report correlates to Global Reporting Initiative (GRI) Core Standards outlined at globalreporting.org. The report and additional policies, disclosures and information about the Company’s ESG initiatives are organized in the investors section at caretrustreit.com.

About CareTrust REIT, Inc.

CareTrust REIT, Inc. is a self-administered, publicly traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231011986956/en/

CareTrust REIT, Inc.

(949) 542-3130

https://www.caretrustreit.com/contact/

Source: CareTrust REIT, Inc.

FAQ

What are the key highlights of CareTrust REIT's Corporate Sustainability report?

The report highlights a portfolio-wide physical climate risk assessment, integration of ESG checklist into the acquisition process, funding of environmental improvement projects, and engagement with a cybersecurity firm.

How does CareTrust REIT track and promote sustainable operating decisions?

CareTrust REIT tracks and promotes sustainable operating decisions through its ESG initiatives, including the development and implementation of a triple net 'Green Lease' and waste tracking.

What makes CareTrust REIT's ESG Program unique?

CareTrust REIT's ESG Program is unique because it relies exclusively on triple-net master leases and is not considered a Seniors Housing Operating Portfolio (SHOP) or designed under the REIT Investment Diversification and Empowerment Act (RIDEA) model.

Where can I find more information about CareTrust REIT's ESG initiatives?

More information about CareTrust REIT's ESG initiatives can be found in the investors section of their website at caretrustreit.com.