caretrust reit
CareTrust REIT Announces Second Quarter 2018 Operating Results; Updates 2018 Guidance
https://www.bloomberg.com/press-releases/...lts-updates-2018-guidance
For the quarter, CareTrust REIT reported:
* Net income of $13.3 million, and net income per diluted weighted-average
common share of $0.17;
* Normalized FFO of $24.5 million, an increase of 19%, and normalized FFO
per diluted weighted-average common share of $0.32, an increase of 14%
over Q2 2017;
* Normalized FAD of $25.6 million, an increase of 18%, and normalized FAD
per diluted weighted-average common share of $0.33, an increase of 10%
over Q2 2017;
* A net debt-to-normalized EBITDA ratio of 4.1x and a debt-to-enterprise
value of 29%, each as of quarter-end.
CareTrust REIT: This Top-Shelf Healthcare REIT Yields 4.5%, Covers Its Dividend, And Retains Upside
https://seekingalpha.com/article/...nt-covers-dividend-retains-upside
Summary
- CareTrust REIT is a fast-growing healthcare REIT in the SNF sector.
- The healthcare REIT is adding new properties to its property portfolio at a fast clip and moves into new markets which will improve the REIT's diversification stats over time.
- CareTrust REIT grows its dividend at above average rates.
- CareTrust REIT's shares sell for a reasonable 2018 AFFO multiple, and retain upside as the REIT's FFO grows through acquisitions.
- An investment in CTRE yields 4.5 percent.
CareTrust REIT Adds Operating Partner and SNF/ALF Campus in California’s Silicon Valley
https://www.bloomberg.com/press-releases/...lifornia-s-silicon-valley
CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that it has acquired the Villas at Saratoga
(formerly Our Lady of Fatima Villa), an 85-bed skilled nursing and 37-unit
assisted living campus in Saratoga, California
...
The total initial investment is expected to be approximately $19.0 million,
inclusive of transaction costs. Cash rent for the first two years is $3.4
million, and thereafter rent escalates based on CPI. Additionally, CareTrust
has committed to fund approximately $1.4 million in revenue-producing capital
expenditures over the next 24 months based on the in-place lease yield. The
lease term is 15 years, with two five-year renewal options. The acquisition
was funded using cash on hand.
CareTrust REIT Announces Third Quarter 2018 Operating Results; Updates 2018 Guidance
https://www.bloomberg.com/press-releases/...lts-updates-2018-guidance
For the quarter, CareTrust REIT reported:
* Net income of $14.5 million, an increase of 28% over the prior year
quarter, and net income per diluted weighted-average common share of
$0.18, up approximately 20% over the same period;
* Normalized FFO of $25.8 million, an increase of 20%, and normalized FFO
per diluted weighted-average common share of $0.32, an increase of 14%
over Q3 2017;
* Normalized FAD of $26.6 million, an increase of 20%, and normalized FAD
per diluted weighted-average common share of $0.33, an increase of 14%
over Q3 2017;
* A net debt-to-normalized EBITDA ratio of 3.5x and a debt-to-enterprise
value of 25%, each as of quarter-end.
CareTrust REIT (CTRE) CEO Greg Stapley on Q3 2018 Results - Earnings Call Transcript
https://seekingalpha.com/article/...nings-call-transcript?part=single
Our third quarter went about as smoothly as any in our history. We closed on a couple of nice deals, we saw robust demand for equity under our ATM program and we continue to watch closely and actively our tenant operations. We're pleased to report the facilities are doing well, including the ones that transition's new operators over the past year.
...
As I mentioned, in yesterday's press release on a net debt to EBITDA basis, our leverage is at an all-time low, earnings are at an all-time high, and our pipeline is in the best shape we've seen in over a year.
CareTrust REIT Grows in Colorado
https://www.bloomberg.com/press-releases/...st-reit-grows-in-colorado
CareTrust REIT, Inc.
(NASDAQ:CTRE) announced today that it has acquired a 154-licensed bed skilled
nursing facility in Parker, Colorado. The will be operated by Salt Lake
City-based Eduro Healthcare, LLC, which operates five other CareTrust
properties, including one in nearby Lakewood, also in the Denver Metro area.
Formerly known as Avantara Crown Point, the state-of-the-art skilled nursing
facility was built in 2012 and will be rechristened The Suites - Parker.
...
CareTrust’s total investment was approximately $19.6 million, inclusive of
transaction costs. The property was added to CareTrust’s existing master lease
with Eduro, with an initial increase in annual cash rent of approximately
$1.75 million. The master lease carries annual CPI-based rent escalators, and
has twelve years remaining on the initial term, plus two five-year renewal
options. The acquisition was funded using cash on hand.
Is CareTrust REIT, Inc. a Buy?
https://www.fool.com/investing/2019/01/04/...rust-reit-inc-a-buy.aspx
CareTrust has made a lot of progress. In the second half of 2014 it bought five properties before really ramping up in 2015, 2016, and 2017, when it acquired 20, 35, and 36 assets, respectively. There was a bit of a slowdown in 2018, with only 12 deals. But at this point the REIT has around 190 properties across 25 states, effectively doubling its size in less than five years.
...
There's nothing inherently wrong with CareTrust REIT. It has been using a well-worn playbook for REIT spinoffs, and so far it has been doing a pretty good job taking advantage of a weak nursing home market to get attractive pricing on its diversifying acquisitions. If you are looking for a REIT that is focused on growth, including dividend growth, then CareTrust is worth a deep dive.
CareTrust REIT Bolsters WLC Master Lease with Illinois Campus
https://www.bloomberg.com/press-releases/...ease-with-illinois-campus
CareTrust REIT, announced today that it has acquired a skilled nursing and
supportive living campus in Mt. Carmel, Illinois. The campus includes 90
licensed skilled nursing beds and 38 licensed supportive living facility beds.
The acquisition was a “tack-on” to CareTrust’s existing seven-property master
lease with Harrisburg, Illinois-based WLC Firm, LLC, which will replace the
outgoing operator.
...
The total investment for the facility was approximately $9.0 million,
inclusive of transaction costs. The initial annual cash rent from the Oakview
asset will be approximately $853,000. As part of the transaction, CareTrust
and WLC entered into an amended and restated master lease as of February 1,
2019, with CPI-based annual rent escalators and a 15-year term plus two
five-year renewal options. The acquisition was funded using cash on hand.
CareTrust REIT, Inc. Announces Expansion, Reduced Pricing and Extension of Unsecured Revolver and New 7-Year Unsecured Term
https://www.bloomberg.com/press-releases/...new-7-year-unsecured-term
CareTrust REIT Expands in California
https://www.bloomberg.com/press-releases/...eit-expands-in-california
CareTrust REIT Announces Fourth Quarter and Fiscal 2018 Operating Results
https://www.bloomberg.com/press-releases/...al-2018-operating-results
For the quarter, CareTrust REIT reported:
* Net income of $15.5 million and net income per diluted weighted-average
common share of $0.18;
* Normalized FFO of $27.1 million, a quarter-over-quarter increase of 14%,
and normalized FFO per diluted weighted-average common share of $0.32, a
quarter-over-quarter increase of 3% over Q4 2017;
* Normalized FAD of $27.9 million, an increase of 14%, and normalized FAD
per diluted weighted-average common share of $0.33, a quarter-over-quarter
increase of 3% over Q4 2017;
* A net debt-to-normalized EBITDA ratio of 3.3x and a debt-to-enterprise
value of 24%, each as of quarter-end.
https://seekingalpha.com/article/...-results-earnings-call-transcript
CareTrust REIT Raises Quarterly Dividend 9.8% to $0.225 per Share
https://www.bloomberg.com/press-releases/...nd-9-8-to-0-225-per-share
CareTrust REIT, Inc.
(NASDAQ:CTRE) announced today that its Board of Directors has increased its
quarterly common stock cash dividend from $0.205 to $0.225 per common share.
The current dividend will be payable to common stockholders of record as of
the close of business on March 29, 2019, and management affirmed that the
company plans to pay the dividend on or about April 15, 2019.
CareTrust REIT Completes $211 Million Acquisition
https://www.bloomberg.com/press-releases/...s-211-million-acquisition
CareTrust REIT,
Inc. (Nasdaq:CTRE) announced today that it successfully completed a
previously-disclosed $211 million multi-asset acquisition. The transaction
grows CareTrust’s existing real estate holdings by 12 properties with 1,734
beds/units and adds over $19.0 million in new annual revenue to the company’s
portfolio as of April 1, 2019.
...
The acquisition was
funded using a combination of cash on hand and CareTrust’s $600 million
unsecured revolving credit facility.
Moody's upgrades CareTrust to Ba2, outlook stable
https://www.moodys.com/research/...hbnNsYXRpb25z%7e20190429_PR_399632
Moody's Investors Service ("Moody's") upgraded the corporate family rating of CareTrust REIT, Inc. ("CareTrust") to Ba2 from Ba3 and the senior unsecured rating of its subsidiary, CTR Partnership, L.P., to Ba2 from Ba3. In the same rating action, Moody's assigned a speculative grade liquidity rating of SGL-2 to CareTrust. The rating outlook was revised to stable from positive.
CareTrust REIT Adds Skilled Nursing Facility and Welcomes New Operating Partner in Texas
https://www.bloomberg.com/press-releases/...perating-partner-in-texas
CareTrust REIT, Inc.
(NASDAQ:CTRE) announced today that it has acquired Lakewest Rehabilitation &
Skilled Care, a 118-bed skilled nursing facility located in Dallas, Texas.
...
The total initial investment for Lakewest was approximately $10.0 million,
inclusive of transaction costs. Initial annual cash rent will be approximately
$900,000. The Next Gen master lease carries an initial term of fifteen years,
with two five-year renewal options and CPI-based rent escalators. The property
is subject to a long-term ground lease in favor of the Dallas Housing
Authority. The acquisition was funded using cash on hand.
CareTrust REIT Announces First Quarter 2019 Operating Results
https://www.bloomberg.com/press-releases/...er-2019-operating-results
For the quarter, CareTrust REIT reported:
* Net income of $16.1 million, a quarter-over-quarter increase of 10%, and
net income per diluted weighted-average common share of $0.18;
* Normalized FFO of $27.9 million, a quarter-over-quarter increase of 16%,
and normalized FFO per diluted weighted-average common share of $0.32;
* Normalized FAD of $29.0 million, a quarter-over-quarter increase of 16%,
and normalized FAD per diluted weighted-average common share of $0.33;
* A net debt-to-normalized EBITDA ratio of 3.3x, and a net
debt-to-enterprise value of 18%, each as of quarter-end.
CareTrust REIT (CTRE) CEO Greg Stapley on Q1 2019 Results - Earnings Call Transcript
https://seekingalpha.com/article/...-results-earnings-call-transcript
CareTrust REIT Announces First Quarter 2019 Operating Results
https://www.bloomberg.com/press-releases/...er-2019-operating-results
For the quarter, CareTrust REIT reported:
* Net income of $16.1 million, a quarter-over-quarter increase of 10%, and
net income per diluted weighted-average common share of $0.18;
* Normalized FFO of $27.9 million, a quarter-over-quarter increase of 16%,
and normalized FFO per diluted weighted-average common share of $0.32;
* Normalized FAD of $29.0 million, a quarter-over-quarter increase of 16%,
and normalized FAD per diluted weighted-average common share of $0.33;
* A net debt-to-normalized EBITDA ratio of 3.3x, and a net
debt-to-enterprise value of 18%, each as of quarter-end.
CareTrust REIT Credit Ratings Upgraded by Moody’s Investors Service
https://www.bloomberg.com/press-releases/...moody-s-investors-service
On April 29, 2019, Moody’s announced that it upgraded the corporate family
credit rating of CareTrust REIT, Inc. to Ba2 from Ba3, with a stable outlook.
Moody’s also raised its senior unsecured rating on CareTrust’s operating
partnership, which is the issuer of CareTrust’s $300 million 5.25% senior
unsecured notes, to Ba2 with a stable outlook.
CareTrust REIT Adds Skilled Nursing Facility and Welcomes New Operating Partner in Texas
https://www.bloomberg.com/press-releases/...perating-partner-in-texas
The total initial investment for Lakewest was approximately $10.0 million,
inclusive of transaction costs. Initial annual cash rent will be approximately
$900,000. The Next Gen master lease carries an initial term of fifteen years,
with two five-year renewal options and CPI-based rent escalators. The property
is subject to a long-term ground lease in favor of the Dallas Housing
Authority. The acquisition was funded using cash on hand.
Kam mir alles scho so bekannt vor.
Irgendwie hat ich grad nen Aussetzer.
CareTrust REIT Acquires Newly-Constructed Skilled Nursing Facility in Nampa, Idaho
https://www.bloomberg.com/press-releases/...g-facility-in-nampa-idaho
CareTrust REIT, Inc.
(NASDAQ:CTRE) announced today that it has acquired Cascadia of Nampa, a newly
constructed 99-bed transitional rehabilitation facility located one block from
the 152-bed Saint Alphonsus Medical Center in Nampa, Idaho. The facility was
added to CareTrust’s existing master lease with Idaho-based Cascadia
Healthcare, LLC, bringing the total facility count under the Cascadia master
lease to 12 facilities with 1,013 licensed beds.
...
CareTrust’s investment for Cascadia of Nampa was approximately $12.8 million,
inclusive of transaction costs and after receiving credit for CareTrust’s
original equity investment and preferred returns thereon. Initial annual cash
rent will be approximately $1.45 million.
CareTrust REIT Announces Second Quarter 2019 Operating Results
https://www.bloomberg.com/press-releases/...er-2019-operating-results
For the quarter, CareTrust REIT reported:
* Net income of $19.7 million, a quarter-over-quarter increase of 48%, and
net income per diluted weighted-average common share of $0.21;
* Normalized FFO of $33.1 million, a quarter-over-quarter increase of 35%,
and normalized FFO per diluted weighted-average common share of $0.35;
* Normalized FAD of $34.3 million, a quarter-over-quarter increase of 34%,
and normalized FAD per diluted weighted-average common share of $0.36;
* A net debt-to-normalized EBITDA ratio of 3.3x, and a net
debt-to-enterprise value of 19%, each as of quarter-end; and
* Approximately $241 million in new investments in the quarter.
CareTrust REIT, Inc. 2019 Q2 - Results - Earnings Call Slides
https://seekingalpha.com/article/...9-q2-results-earnings-call-slides
CareTrust REIT, Inc. (CTRE) CEO Gregory Stapley on Q2 2019 Results - Earnings Call Transcript
https://seekingalpha.com/article/...-results-earnings-call-transcript
https://www.bloomberg.com/press-releases/...er-2019-operating-results
For the quarter, CareTrust REIT reported:
* Net loss of $10.1 million and net loss per diluted weighted-average common
share of $0.11;
* Normalized FFO of $33.6 million and normalized FFO per diluted
weighted-average common share of $0.35;
* Normalized FAD of $34.5 million and normalized FAD per diluted
weighted-average common share of $0.36; and
* A net debt-to-normalized EBITDA ratio of 3.4x, and a net
debt-to-enterprise value of 20%, each as of quarter-end.
CareTrust REIT Inc (CTRE) Q3 2019 Earnings Call Transcript
https://www.fool.com/earnings/call-transcripts/...ings-call-tran.aspx
CareTrust REIT Announces Fourth Quarter and Full Year 2019 Operating Results
https://www.bloomberg.com/press-releases/...ar-2019-operating-results
For the quarter, CareTrust REIT reported:
* Net income of $20.7 million and net income per diluted weighted-average
common share of $0.22;
* Normalized FFO of $32.5 million and normalized FFO per diluted
weighted-average common share of $0.34;
* Normalized FAD of $34.1 million and normalized FAD per diluted
weighted-average common share of $0.36; and
* A net debt-to-normalized EBITDA ratio of 3.3x, and a net
debt-to-enterprise value of 21%, each as of quarter-end.