CareTrust REIT Expands Portfolio With $60M Acquisition Of Three Southern California Continuing Care Retirement Communities

4/2/24 6:11:43 AM ET

Real Estate Investment Trusts

Real Estate

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CareTrust acquired Torrey Pines Senior Living, a CCRC located in San Diego, California, for a total investment amount of approximately $32.3 million (inclusive of transaction costs). The Torrey Pines facility has been added to CareTrust's existing master lease with Bayshire. Annual cash rent for the first year is approximately $2.6 million, increasing to approximately $3.0 million in the second year with CPI-based annual escalators thereafter.

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Recent Analyst Ratings for
$CTRE

Date	Price Target	Rating	Analyst
10/1/2024	$28.00 → $34.00	Equal Weight → Overweight	Wells Fargo
5/29/2024	$26.00	Neutral	Wedbush
1/30/2024	$23.00	Hold	Deutsche Bank
9/20/2023	$23.00	Buy	Jefferies
9/12/2023	$19.00 → $23.00	Sector Perform → Outperform	RBC Capital Mkts
8/16/2023	$23.50 → $24.00	Market Perform → Outperform	BMO Capital Markets
7/27/2023	$23.00	Buy	Berenberg
4/20/2023	$21.00	Equal Weight	Wells Fargo

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$CTRE
Financials

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CareTrust REIT Announces Third Quarter 2024 Operating Results
Conference Call Scheduled for Wednesday, October 30, 2024 at 1:00 pm ET CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended September 30, 2024, as well as other recent events. For the quarter, CareTrust REIT reported: Investments of $440.8 million at an estimated stabilized yield of 9.1%; 17.2 million shares sold under its ATM Program for gross proceeds of $500.1 million; Prepayment of the entirety of the $200.0 million term loan; 98.7% of contractual rent and interest collected; Net income of $33.4 million and net income per share of $0.21; Net Debt to Annualized Normalized Run Rate EBITDA of 0.08x; Normalized FFO of $60.9 million and nor
10/29/24 4:18:00 PM ET
$CTRE
Real Estate Investment Trusts
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CareTrust REIT Sets Third Quarter Earnings Call for Wednesday, October 30, 2024
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it plans to release its third quarter 2024 financial results after the U.S. markets close on Tuesday, October 29, 2024. Representatives of CareTrust REIT's management team will host a conference call to discuss the results and other current matters the following day. Conference Call CareTrust REIT invites current and prospective investors to listen to the call on Wednesday, October 30, 2024 at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time). The toll-free dial-in number is 1 (800) 715-9871 or toll dial-in number is 1 (646) 307-1963 and the conference ID number is 2243604. To listen to the call online as a webcast, or to view any fina
10/23/24 6:19:00 PM ET
$CTRE
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CareTrust REIT Acquires Four Skilled Nursing Facilities in Mid-Atlantic for $74.7 Million; Reports Reloaded Pipeline of $240 Million
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 4-facility, 396-bed/unit skilled nursing portfolio located in the Mid-Atlantic for a total investment amount of approximately $74.7 million (inclusive of transaction costs). One of the four facilities acquired is a skilled nursing and assisted living campus, which includes 47 assisted living units. In connection with the acquisition, the company entered into a triple-net master lease with a new operator relationship for the company. The operator is an experienced skilled nursing operator who has operated facilities across multiple states. The new master lease has an initial term of 15 years with two, 5-year extension o
10/3/24 5:00:00 AM ET
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CareTrust REIT Announces James Callister to Succeed Mark Lamb as Chief Investment Officer
The Board of Directors of CareTrust REIT, Inc. (NYSE:CTRE) announced today the appointment of James Callister as Chief Investment Officer, to be effective as of December 31, 2022. Mr. Callister will succeed Mark Lamb, who will be leaving the company after a transition period to pursue entrepreneurial opportunities. Mr. Callister currently serves as CareTrust's Executive Vice President. "On behalf of the Board and all of us at CareTrust, I express our admiration and gratitude for the tremendous impact Mark has had on building the company since the beginning," said Chief Executive Officer, Dave Sedgwick. "Mark has always been a true partner and friend and we wish him continued success in the
11/28/22 8:00:00 AM ET
$CTRE
Real Estate Investment Trusts
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CareTrust REIT Announces Changes to the Board of Directors
The Board of Directors of CareTrust REIT, Inc. (NYSE:CTRE) today announced the resignation of Greg Stapley as Executive Chair of the Company's Board of Directors. The Board also announced that Lead Independent Director Diana Laing was appointed to replace Mr. Stapley as Chair of the Board, and Chief Executive Officer David Sedgwick was appointed as a director. Mr. Stapley's resignation from the Board follows his relinquishment of the Chief Executive role last January. As previously announced, Mr. Stapley and his wife have accepted a full-time international volunteer assignment for The Church of Jesus Christ of Latter-day Saints. "As my missionary service in Mexico draws near, I have carefu
7/1/22 9:02:00 AM ET
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CareTrust REIT Announces Appointment of New Director
SAN CLEMENTE, Calif., March 16, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of CareTrust REIT, Inc. (NASDAQ:CTRE) today announced that Allen C. Barbieri has retired as a member of its Board of Directors after six years of service, effective March 10, 2022. The Board also announced the appointment of Careina D. Williams to succeed Mr. Barbieri, effective immediately. "We are grateful to Allen for his contributions in shepherding CareTrust from our early days to where we are today," said Greg Stapley, CareTrust's Executive Chairman. Mr. Barbieri served as chairman of both the Nominating & Corporate Governance Committee and the Board's Sustainability & Corporate Responsibility Committee,
3/16/22 4:33:43 PM ET
$CTRE
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PACS Group Closes Acquisition of Operations at 8 Facilities in Pennsylvania, Including Real Estate on 4
PACS Group, Inc. (NYSE:PACS) ("PACS" or the "Company") announced today that independently operated subsidiaries of the Company have acquired the operations of 8 skilled nursing facilities in Pennsylvania. The facilities are located in the western Pennsylvania cities of Pittsburgh, Bedford, Bethel Park, Monroeville, and McMurray, and collectively comprise 1,199 skilled nursing beds. Four of the facilities are being leased from an affiliate of CareTrust REIT (NYSE:CTRE), and subsidiaries of the Company acquired the real estate of the remaining four facilities. "We're excited to enter into Pennsylvania — a new market for PACS and our 17th state — and we're pleased to welcome these 8 facilitie
11/1/24 4:05:00 PM ET
$CTRE
$PACS
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Hospital/Nursing Management
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CareTrust REIT, Inc. Announces Pricing of Upsized Public Offering of Common Stock
CareTrust REIT, Inc. (NYSE:CTRE) ("CareTrust REIT" or the "Company") announced the pricing of its upsized underwritten public offering of 13,800,000 shares of common stock at a price to the public of $32.00 per share. The offering is expected to close on November 1, 2024, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 2,070,000 shares of common stock. The Company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which will in turn use the proceeds from this offering to fund new investments, including to acquire 31 skilled nursing faci
10/30/24 8:28:00 PM ET
$CTRE
Real Estate Investment Trusts
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CareTrust REIT, Inc. Announces Launch of Public Offering of Common Stock
CareTrust REIT, Inc. (NYSE:CTRE) ("CareTrust REIT" or the "Company") announced that, subject to market and other conditions, it intends to offer to sell 11,500,000 shares of its common stock in an underwritten public offering. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of common stock. If exercised, all additional shares will be offered at the public offering price per share of common stock in the offering. The Company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which will in turn use the proceeds from this offering to fund new investments, including to acquire 31 skille
10/30/24 4:38:00 PM ET
$CTRE
Real Estate Investment Trusts
Real Estate

CareTrust REIT Expands Portfolio With $60M Acquisition Of Three Southern California Continuing Care Retirement Communities

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Recent Analyst Ratings for $CTRE

$CTRE SEC Filings

CareTrust REIT Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

SEC Form 424B5 filed by CareTrust REIT Inc.

SEC Form 424B5 filed by CareTrust REIT Inc.

$CTRE Large Ownership Changes

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Amendment: SEC Form SC 13G/A filed by CareTrust REIT Inc.

SEC Form SC 13G/A filed by CareTrust REIT Inc. (Amendment)

SEC Form SC 13G/A filed by CareTrust REIT Inc. (Amendment)

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CareTrust REIT upgraded by Wells Fargo with a new price target

Wedbush initiated coverage on CareTrust REIT with a new price target

Deutsche Bank initiated coverage on CareTrust REIT with a new price target

$CTRE Financials

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CareTrust REIT Announces Third Quarter 2024 Operating Results

CareTrust REIT Sets Third Quarter Earnings Call for Wednesday, October 30, 2024

CareTrust REIT Acquires Four Skilled Nursing Facilities in Mid-Atlantic for $74.7 Million; Reports Reloaded Pipeline of $240 Million

$CTRE Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

CFO and Treasurer Wagner William M sold $1,043,000 worth of shares (35,000 units at $29.80), decreasing direct ownership by 12% to 257,439 units (SEC Form 4)

Williams Careina D. was granted 5,428 shares, increasing direct ownership by 43% to 18,118 units (SEC Form 4)

Plumb Spencer G was granted 5,428 shares, increasing direct ownership by 15% to 40,740 units (SEC Form 4)

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CareTrust REIT Announces James Callister to Succeed Mark Lamb as Chief Investment Officer

CareTrust REIT Announces Changes to the Board of Directors

CareTrust REIT Announces Appointment of New Director

CareTrust REIT Stock: A Deep Dive Into Analyst Perspectives (4 Ratings)

Deutsche Bank Maintains Hold on CareTrust REIT, Raises Price Target to $27

Reported Earlier, CareTrust REIT Advances Healthcare Portfolio With Strategic $99M Financing For 8-Facility Acquisition

PACS Group Closes Acquisition of Operations at 8 Facilities in Pennsylvania, Including Real Estate on 4

CareTrust REIT, Inc. Announces Pricing of Upsized Public Offering of Common Stock

CareTrust REIT, Inc. Announces Launch of Public Offering of Common Stock

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