Welcome to our dedicated page for CareTrust REIT news (Ticker: CTRE), a resource for investors and traders seeking the latest updates and insights on CareTrust REIT stock.
CareTrust REIT, Inc. (CTRE) is a prominent, self-administered, publicly-traded real estate investment trust (REIT) specializing in the acquisition, ownership, and leasing of senior housing and healthcare-related properties. Since its inception in 2014, following a spin-off from The Ensign Group, CareTrust has rapidly expanded its portfolio, which now includes over 100 net-leased healthcare properties and three operated senior housing properties across ten states.
The company’s core business revolves around generating revenue through leasing its properties to healthcare operators, utilizing triple-net lease arrangements. Under these agreements, tenants bear the responsibility for all property-related costs, including taxes, insurance, maintenance, repairs, and capital expenditures. This model ensures a steady income stream for CareTrust while providing healthcare operators with the necessary infrastructure to deliver quality services.
CareTrust is actively acquiring and financing additional properties nationwide. Their strategy involves partnering with a diverse group of operators, including local, regional, and national senior housing services providers, healthcare service providers, and other healthcare-related businesses. This diversification helps mitigate risks and enhances the stability of rental income.
Recent Achievements and Current Projects:
- Continual growth in property acquisitions to expand the portfolio.
- Strengthening partnerships with leading healthcare operators to ensure high-quality tenant operations.
- Maintaining a robust financial position to support ongoing expansion and operational excellence.
CareTrust’s origins trace back to The Ensign Group, founded in 1999 by leaders committed to transforming the post-acute care industry. This legacy of excellence and customer-centric operations continues to drive CareTrust's growth and strategic initiatives.
Investors and stakeholders can rely on CareTrust’s proven track record of stability and growth in the healthcare real estate market, underscored by a focus on high-quality care and sustainable business practices.
CareTrust REIT, Inc. (NASDAQ:CTRE) has declared a quarterly cash dividend of $0.265 per common share, payable on or about January 15, 2022, to stockholders of record as of December 31, 2021. The company is a publicly-traded real estate investment trust focused on the ownership and leasing of skilled nursing and healthcare-related properties across the U.S. CareTrust aims to pursue growth through both external acquisitions and organic development.
CareTrust REIT (Nasdaq:CTRE) has appointed David Sedgwick as CEO, effective January 1, 2022, succeeding Greg Stapley, who will transition to Executive Chairman. Sedgwick, with CareTrust since 2014 and formerly with The Ensign Group, brings extensive healthcare operational experience. Diana M. Laing is appointed Lead Independent Director. The board expressed confidence in Sedgwick's leadership to drive growth and profitability, highlighting a total shareholder return of approximately 156% since the company's spin-off in 2014. The management team remains unchanged during this transition.
CareTrust REIT (CTRE) reported its Q3 2021 financial results, highlighting 96.2% of contractual rents collected. The firm generated a net income of $11.9 million, or $0.12 per share, alongside normalized FFO of $36.7 million, a 13% year-over-year increase. The quarterly dividend remains at $0.265 per share. Notably, skilled nursing occupancy rose from 69.7% in June to 71.5% in September, with almost 60% of facilities nearing pre-pandemic levels. However, labor shortages and rising costs pose challenges. The company updated its 2021 guidance, raising expected FFO to $1.49-$1.50 per share.
CareTrust REIT (NASDAQ:CTRE) announced it will release its third quarter 2021 financial results on November 8, 2021, before U.S. markets open. Management will host a conference call at 2:00 p.m. ET to discuss the results. Interested stakeholders can join by calling (844) 220-4972 for U.S./Canada or (317) 973-4053 internationally, using conference ID 4158737. The call will also be available as a webcast, and a replay will be accessible on the company's website for 30 days. CareTrust REIT focuses on owning and leasing skilled nursing and healthcare-related properties across the U.S.
CareTrust REIT has declared a quarterly cash dividend of $0.265 per common share, payable to shareholders as of September 30, 2021. The dividend is set for payment on or about October 15, 2021. As a self-administered, publicly-traded real estate investment trust, CareTrust focuses on the ownership and leasing of healthcare-related properties. The company is committed to growth through both external acquisitions and organic development across the U.S.
CareTrust REIT (Nasdaq:CTRE) has released its inaugural Corporate Social Responsibility (CSR) Report, showcasing its commitment to environmental, social, and governance (ESG) initiatives. CEO Greg Stapley emphasized the company's progress since 2019 in addressing ESG priorities despite challenges faced as a triple-net landlord. The report highlights a proprietary Tenant ESG Program that incentivizes tenants to implement positive changes. CareTrust plans to produce annual CSR reports and aligns its reporting with Global Reporting Initiative (GRI) Standards to enhance transparency for stakeholders.
CareTrust REIT (CTRE) reported Q2 2021 results revealing a 12.6% increase in net income to $21.3 million and an 11.4% rise in normalized FFO to $35.8 million. The company maintained a quarterly dividend of $0.265 per share, with a payout ratio of 66% on normalized FAD. The occupancy rate for skilled nursing facilities improved to 69.9%, while assisted living remained steady. A $400 million bond issuance was completed, allowing for the redemption of 2025 notes. 2021 guidance was updated, projecting normalized FFO at $1.48 to $1.50 per share.
CareTrust REIT (Nasdaq: CTRE) announced the acquisition of two skilled nursing facilities in the Austin, Texas area for approximately $32.5 million. The Sedona Trace Health & Wellness Center and Cedar Pointe Health & Wellness Center are now under the management of The Ensign Group (Nasdaq: ENSG). This deal extends the lease term by ten years and includes a $5 million upfront rent reduction, with an annual cash rent increase of around $2.2 million, resulting in an initial cash yield of approximately 8.0%. The acquisition was funded through CareTrust's $600 million unsecured revolving credit facility.
CareTrust REIT (NASDAQ:CTRE) will announce its Q2 2021 financial results on August 5, 2021, after market close. A conference call is scheduled for the following day, August 6, 2021, at 1:00 p.m. ET, for management to discuss the results. Investors can participate via dial-in or listen to the webcast on the company's Investor Relations page. CareTrust REIT specializes in real estate investment related to healthcare, focusing on skilled nursing and seniors housing properties across the U.S.
CareTrust REIT (NASDAQ:CTRE) announced a quarterly cash dividend of $0.265 per common share, payable on or about July 15, 2021. This dividend is for shareholders of record by the close of business on June 30, 2021. CareTrust REIT is engaged in the ownership, acquisition, and leasing of skilled nursing and healthcare-related properties across the U.S. The company is focused on both external and organic growth opportunities in the healthcare real estate sector.
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