Latest news with #CareTrustREIT
Yahoo
3 days ago
- Business
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CareTrust REIT Stock Gets Technical Rating Upgrade
CareTrust REIT shows rising price performance, earning an upgrade to its IBD Relative Strength Rating
Yahoo
02-06-2025
- Business
- Yahoo
CareTrust REIT Acquires Pacific Northwest Portfolio for Approximately $146 Million
SAN CLEMENTE, Calif., June 02, 2025--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) ("CareTrust" or the "Company") announced today that, together with a joint venture partner, it has acquired a portfolio of skilled nursing facilities located in the Pacific Northwest for a total purchase price of approximately $146 million, inclusive of transaction costs. The portfolio consists of 10 facilities comprising 911 licensed beds located across Idaho, Oregon and Washington. The acquisition was completed through a joint venture arrangement entered into between CareTrust and a large third-party healthcare real estate owner. At closing, CareTrust provided common equity and preferred equity investments totaling approximately $141 million at an initial contractual yield on its combined investment in the joint venture of approximately 9.0%. The total investment amount was funded using a combination of cash on hand and a draw from the Company's revolving credit line, which brought the outstanding balance on the revolver to approximately $475 million. The joint venture has leased the facilities to two existing tenants who each have strong rent coverage on existing leased CareTrust properties and deep operating experience pursuant to new 15-year triple-net leases that include extension options and annual escalators. "We are excited to announce the acquisition of 10 skilled nursing properties in a transaction that reflects both our commitment to disciplined growth and the continued opportunity in the post-acute sector," said James Callister, CareTrust's Chief Investment Officer. He continued, "Working alongside two strong existing tenants and our joint venture partner to navigate a complex closing structure has been a pleasure, and we're thrilled to add to relationships that align with our long-term strategy." Joe Callan, Senior Vice President of Investments, added, "This acquisition further underscores the favorable investment environment we are seeing and highlights CareTrust's unique ability to leverage its operator roots to grow our portfolio with high-quality tenants." The closing of this transaction brings the Company's annual investment total to approximately $1.1 billion. Mr. Callister noted, "After a busy 2024 deploying over $1.5 billion in skilled nursing and seniors housing investments, the momentum continues in 2025. We're excited to announce this transaction after closing the Care REIT acquisition in May to highlight the concurrent opportunities in the US and UK to grow our portfolio. With our balance sheet strength, we're positioned to pursue those opportunities in both markets simultaneously." About CareTrust™ 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 portfolio of long-term net-leased properties spanning the United States and United Kingdom, and a growing portfolio of quality operators leasing them, CareTrust is pursuing both external and organic growth opportunities across the US and internationally. More information about CareTrust REIT is available at Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company's intent, belief or expectations, including, but not limited to, statements regarding the following: industry and demographic conditions, the investment environment, the Company's investment pipeline, and financing strategy. Words such as "anticipate," "believe," "could," "expect," "estimate," "intend," "may," "plan," "seek," "should," "will," "would," and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements, though not all forward-looking statements contain these identifying words. The Company's forward-looking statements are based on management's current expectations and beliefs, and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they are not guarantees and the Company can give no assurance that its expectations will be attained. Factors which could have a material adverse effect on the Company's operations and future prospects or which could cause actual results to differ materially from expectations include, but are not limited to: (i) the ability and willingness of our tenants and borrowers to meet and/or perform their obligations under the agreements we have entered into with them, including, without limitation, their respective obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities; (ii) the risk that we may have to incur additional impairment charges related to our assets held for sale if we are unable to sell such assets at the prices we expect; (iii) the impact of healthcare reform legislation, including minimum staffing level requirements, on the operating results and financial conditions of our tenants and borrowers; (iv) the ability of our tenants and borrowers to comply with applicable laws, rules and regulations in the operation of the properties we lease to them or finance; (v) the intended benefits of our acquisition of Care REIT plc ("Care REIT") may not be realized, and we will be subject to additional risks from our investment in Care REIT and any other international investments; (vi) the ability and willingness of our tenants to renew their leases with us upon their expiration, and the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we replace an existing tenant, as well as any obligations, including indemnification obligations, we may incur in connection with the replacement of an existing tenant; (vii) the availability of and the ability to identify (a) tenants who meet our credit and operating standards, (b) suitable acquisition opportunities, and (c) the ability to acquire and lease the respective properties to tenants on favorable terms; (viii) the ability to generate sufficient cash flows to service our outstanding indebtedness; (ix) access to debt and equity capital markets; (x) fluctuating interest and currency rates; (xi) the impact of public health crises, including significant COVID-19 outbreaks as well as other pandemics or epidemics; (xii) the ability to retain our key management personnel; (xiii) risks related to any forward sale agreements entered into in connection with our at-the-market offering program, including our intention to physically settle any forward sale agreement; (xiv) the ability to maintain our status as a real estate investment trust ("REIT"); (xv) changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs; (xvi) other risks inherent in the real estate business, including potential liability relating to environmental matters and illiquidity of real estate investments; and (xvii) any additional factors included in our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, including in the section entitled "Risk Factors" in Item 1A of such reports, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. CareTrust assumes no obligation to update any such statements in the future. View source version on Contacts IR Contact CareTrust REIT, Inc.(949) 542-3130ir@
Business Wire
28-05-2025
- Business
- Business Wire
CareTrust REIT to Participate in Nareit's REITweek 2025 Investor Conference
SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) ('CareTrust') announced today that management will participate in Nareit's REITweek 2025 Investor Conference June 2-5, 2025, in New York, New York. Presentation materials will be accessible under the 'Events and Presentations' tab on the Investors page of CareTrust's website at 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 portfolio of long-term net-leased properties spanning the United States and United Kingdom, and a growing portfolio of quality operators leasing them, CareTrust is pursuing both external and organic growth opportunities across the US and internationally. More information about CareTrust REIT is available at
Yahoo
28-05-2025
- Business
- Yahoo
CareTrust REIT to Participate in Nareit's REITweek 2025 Investor Conference
SAN CLEMENTE, Calif., May 28, 2025--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) ("CareTrust") announced today that management will participate in Nareit's REITweek 2025 Investor Conference June 2-5, 2025, in New York, New York. Presentation materials will be accessible under the "Events and Presentations" tab on the Investors page of CareTrust's website at About CareTrustTM 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 portfolio of long-term net-leased properties spanning the United States and United Kingdom, and a growing portfolio of quality operators leasing them, CareTrust is pursuing both external and organic growth opportunities across the US and internationally. More information about CareTrust REIT is available at View source version on Contacts IR Contact CareTrust REIT, Inc.(949) 542-3130ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Looking for a Growth Stock? 3 Reasons Why CareTrust REIT (CTRE) is a Solid Choice
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. CareTrust REIT (CTRE) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank. Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). Here are three of the most important factors that make the stock of this health care real estate investment trust a great growth pick right now. Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for CareTrust REIT is 1.1%, investors should actually focus on the projected growth. The company's EPS is expected to grow 18.7% this year, crushing the industry average, which calls for EPS growth of -0.3%. While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds. Right now, year-over-year cash flow growth for CareTrust REIT is 67.6%, which is higher than many of its peers. In fact, the rate compares to the industry average of 3%. While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 12.5% over the past 3-5 years versus the industry average of 3.3%. Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The current-year earnings estimates for CareTrust REIT have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.7% over the past month. CareTrust REIT has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This combination indicates that CareTrust REIT is a potential outperformer and a solid choice for growth investors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CareTrust REIT, Inc. (CTRE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
