CareTrust REIT Q3 2023 Earnings Report
Key Takeaways
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.
97.5% of contractual rents collected.
Net income of $8.7 million and net income per share of $0.08.
Normalized FFO of $36.6 million and normalized FFO per share of $0.35.
A quarterly dividend of $0.28 per share, representing a payout ratio of approximately 76% on normalized FAD.
CareTrust REIT
CareTrust REIT
Forward Guidance
CareTrust REIT is pleased with continued progress and believes its portfolio, exceptional operators, and strong balance sheet are built to take advantage of the favorable investment landscape in front of them. The investment pipeline today is roughly $175 million, not including larger portfolio deals they regularly review.