Loading...
•
Dec 31, 2020
CareTrust REIT Q4 2020 Earnings Report
Reported solid growth and created additional shareholder value despite the ongoing COVID-19 pandemic.
Key Takeaways
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.
Net income was $21.1 million, or $0.22 per diluted share.
Normalized FFO was $34.2 million, or $0.36 per diluted share.
Normalized FAD was $35.7 million, or $0.37 per diluted share.
Net debt-to-normalized EBITDA was 3.3x.
Forward Guidance
CareTrust issued annual guidance for 2021, on a per-diluted weighted-average common share basis, for net income of approximately $0.84 to $0.86, normalized FFO of approximately $1.40 to $1.42, and normalized FAD of approximately $1.49 to $1.51.
Positive Outlook
- Includes all investments, dispositions and loan repayments made to date
- Includes no new acquisitions, dispositions, new loans or loan repayments beyond those completed or announced to date
- Includes no new debt incurrences or new equity issuances
- Includes estimated 1.25% CPI-based rent escalators under CareTrust's long-term net leases
- Based on a diluted weighted-average common share count of 95.6 million shares
Challenges Ahead
- Material changes in economic and other factors related to the COVID-19 pandemic and the government’s responses thereto could alter the outlook at any time
- Does not contemplate future negative impacts, if any, that are related to the COVID-19 pandemic
- Impacts are highly uncertain
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...