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 (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.
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.
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