CareTrust REIT Earnings Reports

CareTrust REIT delivered a record quarter with strong revenue and net income growth, driven by strategic investments and high rent collection.

CareTrust REIT reported a strong third quarter with significant investments, ATM program proceeds, and debt prepayment. The company's net income was $33.4 million, and normalized FFO reached $60.9 million. They are on track to invest approximately $1.4 billion at an average yield of approximately 9.3% by the end of the year.

CareTrust REIT announced its second quarter results, which included investments of $267.7 million, 98.3% contractual rent collection, and net income of $10.8 million. The company also updated its 2024 guidance, projecting net income per share of approximately $0.86 to $0.88.

CareTrust REIT reported a net income of $28.7 million, normalized FFO of $46.5 million, and normalized FAD of $48.7 million for the quarter ended March 31, 2024. The company sold 11.6 million shares under its ATM Program for gross proceeds of $273.2 million and collected 98.0% of contractual rent and interest.

CareTrust REIT reported net income of $26.3 million, or $0.22 per diluted share, and normalized FFO of $43.4 million, or $0.36 per diluted share, for the fourth quarter of 2023. The company collected 100% of contractual rents and invested $43.2 million during the quarter. They ended the year with approximately $294 million in cash.

CareTrust REIT reported a net income of $8.7 million, or $0.08 per diluted share, normalized FFO of $36.6 million, or $0.35 per diluted share, and normalized FAD of $38.8 million, or $0.37 per diluted share for the quarter ended September 30, 2023. The company collected 97.5% of contractual rents and maintained a quarterly dividend of $0.28 per share.

CareTrust REIT reported a net loss of $0.5 million, normalized FFO of $34.6 million, and normalized FAD of $36.1 million for the quarter ended June 30, 2023. The company acquired 12 properties for $173.5 million, commenced six new operator relationships, originated a $26.0 million loan investment, and sold 6.7 million shares on a forward basis under its ATM Program for expected net proceeds of $131.1 million.

CareTrust REIT reported a net income of $19.2 million, normalized FFO of $35.0 million, normalized FAD of $36.6 million, and increased the quarterly dividend to $0.28 per share.

CareTrust REIT reported a net income of $14.4 million, normalized FFO of $37.0 million, and normalized FAD of $39.0 million for the fourth quarter of 2022. The company collected 95.5% of contractual rents and declared a quarterly dividend of $0.275 per share.

CareTrust REIT reported Q3 2022 operating results, including 93.4% contractual rent collection, net income of $0.7 million, normalized FFO of $36.1 million, normalized FAD of $38.0 million, and a quarterly dividend of $0.275 per share.

CareTrust REIT reported a stable second quarter with 93.9% of contractual rents collected. Net income was $20.7 million, or $0.21 per share, and normalized FFO was $35.6 million, or $0.37 per share. The company also declared a quarterly dividend of $0.275 per share.

CareTrust REIT reported a net loss of $43.3 million, or $(0.45) per diluted share, normalized FFO of $35.9 million, or $0.37 per diluted share, and normalized FAD of $37.9 million, or $0.39 per diluted share for the quarter ended March 31, 2022. 95% of contractual rents were collected. The company acquired a 155-bed skilled nursing facility in Ennis, Texas for $8.9 million and a skilled nursing campus in Decatur, Illinois for $13.1 million.

CareTrust REIT announced Q4 2021 operating results, reporting 100% contractual rent collection, net income of $18.3 million, normalized FFO of $37.3 million, and a quarterly dividend of $0.265 per share.

CareTrust REIT reported a net income of $11.9 million, or $0.12 per share, normalized FFO of $36.7 million, and normalized FAD of $39.0 million for the quarter ended September 30, 2021. The company collected 96.2% of contractual rents and declared a quarterly dividend of $0.265 per share.

CareTrust REIT reported a strong second quarter with 100% contractual rents collected, a 12.6% increase in net income, and increases in normalized FFO and FAD. The company also updated its annual guidance, projecting normalized FFO of approximately $1.48 to $1.50 per share and normalized FAD of approximately $1.57 to $1.59 per share.

CareTrust REIT reported strong first-quarter results, including 100% contractual rent collections, a 5.0% increase in net income per share, and a 7.4% increase in normalized FAD per share. The company also increased its annual dividend and 2021 guidance.

CareTrust REIT reported a positive Q4 2020 with net income of $21.1 million, normalized FFO of $34.2 million, and normalized FAD of $35.7 million. The company collected 99.3% of contract rents in 2020 and experienced no rent leakage in connection with one operator change.

CareTrust REIT reported a net income of $21.6 million, normalized FFO of $32.5 million, and normalized FAD of $33.9 million for the quarter ended September 30, 2020. The company's net debt-to-normalized EBITDA ratio was 3.1x, and net debt-to-enterprise value was 22.0% at quarter-end.

CareTrust REIT reported a net income of $18.9 million, normalized FFO of $32.1 million, and normalized FAD of $33.6 million for the second quarter of 2020. The company's net debt-to-normalized EBITDA ratio was 3.2x, and net debt-to-enterprise value was 23.1% at quarter-end. The company collected 99.5% of contract rents in the second quarter.

CareTrust REIT reported a net income of $19.3 million, normalized FFO of $32.3 million, and normalized FAD of $33.7 million for the quarter ended March 31, 2020. The company collected 99.3% of contract rents in April and expects a similar result in May. They also increased the quarterly dividend from $0.225 to $0.25 per common share.

CareTrust REIT reported a net income of $20.7 million for the fourth quarter of 2019. The company's normalized FFO stood at $32.5 million, and normalized FAD reached $34.1 million. The net debt-to-normalized EBITDA ratio was 3.3x.