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 (CTRE) reported its Q1 2022 results, showcasing a 95% collection rate of contractual rents, despite a net loss of $43.3 million (or $0.45 per share). Normalized FFO increased by 5.2% to $35.9 million and FAD rose 4.8% to $37.9 million. A dividend of $0.275 per share was declared. The company is actively optimizing its portfolio, including transitioning properties into behavioral health facilities. Key investments included acquisitions totaling approximately $22 million in Texas and Illinois. A conference call is set for May 6, 2022.
The Board of CareTrust REIT, Inc. (CTRE) elected Careina D. Williams and Anne Olson as directors during the annual shareholder meeting on May 3, 2022. This meeting marked the first shareholder vote for Ms. Williams, who was appointed to replace retired director Allen C. Barbieri. Anne Olson, the new appointee, succeeds Jon D. Kline, bringing substantial REIT experience from her role at Centerspace. Additional committee leadership changes were also announced, with Ms. Laing chairing the Audit Committee and Ms. Olson leading the Nominating & Corporate Governance Committee.
CareTrust REIT (NASDAQ:CTRE) announced that it will release its Q1 2022 financial results after U.S. markets close on May 5, 2022. Following the results, the management team will host a conference call on May 6, 2022, at 1:00 p.m. Eastern Time. Investors can participate by dialing (844) 220-4972 for U.S./Canada or (317) 973-4053 for international calls, using conference ID 3068616. Further information will be available on the CareTrust REIT website, where a replay of the call will be accessible for approximately 30 days.
CareTrust REIT (Nasdaq:CTRE) announced the retirement of Allen C. Barbieri from its Board of Directors effective March 10, 2022, after six years of service. Careina D. Williams has been appointed to fill his position immediately. Williams brings substantial experience in commercial real estate and has held leadership roles in notable firms. The Board now consists of five members. This leadership change aims to enhance the Board's expertise in underwriting and credit analysis as CareTrust continues to expand its healthcare-related portfolios.
CareTrust REIT (CTRE) has announced an increase in its quarterly cash dividend from $0.265 to $0.275 per common share. The dividend will be payable on or about April 15, 2022 to stockholders of record as of the close of business on March 31, 2022. CEO David Sedgwick emphasized the importance of balancing capital retention with steady dividend increases while maintaining a conservative payout ratio.
CareTrust REIT (NASDAQ:CTRE) has acquired the Imboden Creek Living Center campus in Decatur, Illinois, marking a significant expansion of its portfolio. This facility includes 95 skilled nursing beds, 46 assisted living units, and five independent living units. The acquisition adds approximately $1.24 million to the annual cash rent due to new CPI-based escalators, funded by CareTrust's $600 million revolving credit facility. This transaction coincides with the 5th anniversary of CareTrust’s partnership with WLC Management, which will manage the facility.
CareTrust REIT (CTRE) reported its operating results for Q4 and full year 2021. Key highlights include:
- Net income of $18.3 million, a 13.3% decrease year-over-year.
- Normalized FFO increased by 9% to $37.3 million.
- 100% of contractual rents collected in 2021.
- Declared quarterly dividends of $0.265 per share.
- Plans to sell or repurpose 32 underperforming assets to de-risk the portfolio.
The company is optimistic about growth in 2022, despite ongoing challenges.
CareTrust REIT (NASDAQ:CTRE) announces it will release its Q4 and full-year 2021 financial results on February 16, 2022, after the market closes. A conference call is scheduled for February 17, 2022, at 1:00 p.m. ET to discuss the results and other updates. Investors can listen via phone or online. CareTrust REIT is a publicly-traded real estate investment trust specializing in the ownership and leasing of skilled nursing and healthcare properties across the U.S. For more information, visit its website.
CareTrust REIT (CTRE) announced the acquisition of Ennis Care Center, a 155-bed nursing facility in the Dallas-Fort Worth area, enhancing its portfolio. This acquisition boosts CareTrust's annual rent revenue from Eduro Healthcare by $815,000 and extends their master lease by four years. Eduro now manages a total of nine facilities under CareTrust's lease, with a remaining term of approximately 12 years and CPI-based rent escalators. The acquisition was funded with cash on hand, reflecting CareTrust's commitment to growth in healthcare real estate.
CareTrust REIT (NASDAQ:CTRE) announced the tax status of its 2021 dividends, reporting a total cash distribution of $1.3100 per share. This includes $0.2650 declared for the quarter ending December 31, 2021, payable on January 15, 2022. Due to exceeding earnings and profits for 2021, this amount will appear on the 2022 Form 1099. Shareholders will receive IRS Form 1099-DIV detailing their dividends and tax classifications. The company advises consulting tax advisors for specific reporting guidance.
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