CareTrust REIT Q2 2023 Earnings Report
Key Takeaways
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.
96.7% of contractual rents collected.
Net loss of $0.5 million and net loss per share of $0.01.
Normalized FFO of $34.6 million and normalized FFO per share of $0.35.
A quarterly dividend of $0.28 per share, representing a payout ratio of approximately 78% on normalized FAD.
CareTrust REIT
CareTrust REIT
Forward Guidance
The company continues to have a wide range of capital options for funding its opportunistic growth strategy.