CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.
IPO Year: 2022
Exchange: NASDAQ
Website: caretrustreit.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
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 |
6/3/2022 | $21.50 | Equal Weight | CapitalOne |
4/18/2022 | $22.00 → $17.00 | Overweight → Equal Weight | Barclays |
3/11/2022 | $20.00 | Outperform → Market Perform | BMO Capital |
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8-K - CareTrust REIT, Inc. (0001590717) (Filer)
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8-K - CareTrust REIT, Inc. (0001590717) (Filer)
424B5 - CareTrust REIT, Inc. (0001590717) (Filer)
8-K - CareTrust REIT, Inc. (0001590717) (Filer)
10-Q - CareTrust REIT, Inc. (0001590717) (Filer)
8-K - CareTrust REIT, Inc. (0001590717) (Filer)
CareTrust REIT, Inc. (NYSE:CTRE) announced today that its Board of Directors has declared a quarterly common stock cash dividend of $0.29 per common share. The current dividend will be payable to common stockholders of record as of the close of business on September 30, 2024. The Company intends to pay the dividend on or about October 15, 2024. About CareTrust REITTM CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of qualit
CareTrust REIT, Inc. (NYSE:CTRE) announced today the acquisition of two skilled nursing facilities in separate transactions with a total investment amount of approximately $62.1 million. On August 29th, 2024, the company acquired a 125-licensed bed skilled nursing facility in the Mid-Atlantic. Separately, on August 7th, 2024, the company closed an investment in a 134-licensed bed skilled nursing facility located on the West Coast. CareTrust's investment in the 125-bed Mid-Atlantic facility, inclusive of transaction costs, was approximately $37.7 million and will generate initial annual base rent of approximately $3.4 million. The company has leased the facility pursuant to a new 15-year N
Conference Call Scheduled for Friday, August 2, 2024 at 1:00 pm ET CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended June 30, 2024, as well as other recent events. For the quarter, CareTrust REIT reported: Investments of $267.7 million during the quarter at an estimated stabilized yield of 9.9%; 12.1 million shares sold under its ATM Program for gross proceeds of $306.5 million; 98.3% of contractual rent and interest collected; Net income of $10.8 million and net income per share of $0.07; Net Debt to Annualized Normalized Run Rate EBITDA of 0.4x; Normalized FFO of $52.5 million and normalized FFO per share of $0.36; Normalized
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has funded approximately $378 Million in new investments this week, including the funding of a $260 million senior mortgage loan and a $43 million preferred equity investment in connection with the borrower's acquisition of a 37-facility skilled nursing and seniors housing portfolio located in the Pacific Northwest. The $378 million in investments was funded using cash on hand. The portfolio consists of 2,713 operating beds/units with 21 skilled nursing facilities and 16 seniors housing facilities located in Oregon, Washington, Alaska, Arizona, Idaho, California, Montana, and Nevada. The borrower, which is a joint venture between a
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it plans to release its second quarter 2024 financial results after the U.S. markets close on Thursday, August 1, 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 Friday, August 2, 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 financ
CareTrust REIT, Inc. (NYSE:CTRE) announced today that its Board of Directors has declared a quarterly common stock cash dividend of $0.29 per common share. The current dividend will be payable to common stockholders of record as of the close of business on June 28, 2024. The Company intends to pay the dividend on or about July 15, 2024. About CareTrust REIT™ CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality opera
CareTrust REIT, Inc. (NYSE:CTRE), a healthcare real estate investment trust specializing in skilled nursing and assisted living real estate investments, is proud to announce the celebration of its 10-year anniversary. In separate press releases, on this significant milestone, CareTrust REIT has announced two strategic transactions totaling approximately $180 million, further proving its commitment to growth and excellence in the healthcare sector. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240604777578/en/Portfolio Star Ratings vs. National Average (Source: Center for Medicare and Medicaid Services) A Decade of Commitment to
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has released a new investor presentation and business update in conjunction with NAREIT's REITweek 2024 Investor Conference. The new presentation can be accessed under the "Events and Presentations" tab on the Investors page of CareTrust's website, at https://investor.caretrustreit.com/events-and-presentations/default.aspx. About CareTrustTM CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has funded $90 million of a senior mortgage loan in connection with the borrower's acquisition of an 8-facility skilled nursing portfolio located in the Southeastern United States. The portfolio, consisting of 1,011 skilled nursing beds and 150 assisted living beds, has been acquired by an experienced, regional health care real estate owner and operator, which took over operations effective June 1, 2024. The loan is secured by a first priority lien on the borrowers' ownership interest in the real estate and carries a five-year maturity with two, 6-month extension options and a starting annual effective yield of 10.7%. CareTrust's $9
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 5-facility, 498 licensed bed, skilled nursing portfolio located in the Southeastern United States for a total investment amount of approximately $80.9 million (inclusive of transaction costs). In connection with the acquisition, the company entered into a new triple-net master lease with affiliates of YAD Healthcare, a new operator relationship for the company and an experienced skilled nursing operator with facilities across multiple states in the Mid-Atlantic and Southeastern regions. The new master lease has an initial term of 10 years with two, 5-year extension options and provides for a year 1 contractual lease y
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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
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
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,
SAN CLEMENTE, Calif., Dec. 10, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of CareTrust REIT, Inc. (NASDAQ:CTRE) today announced the appointment of David Sedgwick as Chief Executive Officer, to be effective as of January 1, 2022. Mr. Sedgwick will succeed founding Chairman and CEO Greg Stapley, who will continue to serve as CareTrust's Executive Chairman during an approximately six-month transition period, following which he and his wife Deborah will commence a three-year, full-time volunteer assignment for The Church of Jesus Christ of Latter-day Saints. The Board also announced that Diana M. Laing has been appointed as Lead Independent Director. Mr. Sedgwick, who has been with CareT
Wedbush initiated coverage of CareTrust REIT with a rating of Neutral and set a new price target of $26.00
Deutsche Bank initiated coverage of CareTrust REIT with a rating of Hold and set a new price target of $23.00
Jefferies initiated coverage of CareTrust REIT with a rating of Buy and set a new price target of $23.00
RBC Capital Mkts upgraded CareTrust REIT from Sector Perform to Outperform and set a new price target of $23.00 from $19.00 previously
BMO Capital Markets upgraded CareTrust REIT from Market Perform to Outperform and set a new price target of $24.00 from $23.50 previously
Berenberg initiated coverage of CareTrust REIT with a rating of Buy and set a new price target of $23.00
Wells Fargo initiated coverage of CareTrust REIT with a rating of Equal Weight and set a new price target of $21.00
CapitalOne initiated coverage of CareTrust REIT with a rating of Equal Weight and set a new price target of $21.50
Barclays downgraded CareTrust REIT from Overweight to Equal Weight and set a new price target of $17.00 from $22.00 previously
BMO Capital downgraded CareTrust REIT from Outperform to Market Perform and set a new price target of $20.00
During the last three months, 4 analysts shared their evaluations of CareTrust REIT (NYSE:CTRE), revealing diverse outlooks from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 1 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 1 2 0 0 3M Ago 0 0 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $26.5, a high estimate of $27.00, and a low estimate of $26.00. Observing a 10.42% increase,
Deutsche Bank analyst Omotayo Okusanya maintains CareTrust REIT (NYSE:CTRE) with a Hold and raises the price target from $23 to $27.
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has funded $90 million of a senior mortgage loan in connection with the borrower's acquisition of an 8-facility skilled nursing portfolio located in the Southeastern United States. The portfolio, consisting of 1,011 skilled nursing beds and 150 assisted living beds, has been acquired by an experienced, regional health care real estate owner and operator, which took over operations effective June 1, 2024.
Wells Fargo analyst James Feldman maintains CareTrust REIT (NYSE:CTRE) with a Equal-Weight and raises the price target from $24 to $26.
Wedbush analyst Richard Anderson initiates coverage on CareTrust REIT (NYSE:CTRE) with a Neutral rating and announces Price Target of $26.
Keybanc analyst Austin Wurschmidt maintains CareTrust REIT (NYSE:CTRE) with a Overweight and raises the price target from $25 to $27.
CareTrust REIT (NASDAQ:CTRE) reported quarterly earnings of $0.35 per share which missed the analyst consensus estimate of $0.36 by 2.78 percent. The company reported quarterly sales of $63.070 million which beat the analyst consensus estimate of $52.915 million by 19.19 percent. This is a 24.63 percent increase over sales of $50.606 million the same period last year.
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has funded a $26.7 million mortgage loan in connection with the borrower's acquisition of a 2-asset, skilled nursing portfolio with a total of 276 licensed beds and located in Tennessee. The borrower group under the loan is an experienced, regional health care real estate owner and investor. The facilities will be operated by affiliates of The Ensign Group, Inc. which took over operations effective May 1, 2024, pursuant to a new, long-term triple-net master lease with the borrower.The loan is secured by a first priority lien on the borrowers' ownership interest in the real estate and carries a seven-year maturity with one, 12-month ext
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.
CareTrust REIT, Inc. (NYSE:CTRE) announced today that its Board of Directors has declared a quarterly common stock cash dividend of $0.29 per common share. The current dividend will be payable to common stockholders of record as of the close of business on September 30, 2024. The Company intends to pay the dividend on or about October 15, 2024. About CareTrust REITTM CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of qualit
CareTrust REIT, Inc. (NYSE:CTRE) announced today the acquisition of two skilled nursing facilities in separate transactions with a total investment amount of approximately $62.1 million. On August 29th, 2024, the company acquired a 125-licensed bed skilled nursing facility in the Mid-Atlantic. Separately, on August 7th, 2024, the company closed an investment in a 134-licensed bed skilled nursing facility located on the West Coast. CareTrust's investment in the 125-bed Mid-Atlantic facility, inclusive of transaction costs, was approximately $37.7 million and will generate initial annual base rent of approximately $3.4 million. The company has leased the facility pursuant to a new 15-year N
Conference Call Scheduled for Friday, August 2, 2024 at 1:00 pm ET CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended June 30, 2024, as well as other recent events. For the quarter, CareTrust REIT reported: Investments of $267.7 million during the quarter at an estimated stabilized yield of 9.9%; 12.1 million shares sold under its ATM Program for gross proceeds of $306.5 million; 98.3% of contractual rent and interest collected; Net income of $10.8 million and net income per share of $0.07; Net Debt to Annualized Normalized Run Rate EBITDA of 0.4x; Normalized FFO of $52.5 million and normalized FFO per share of $0.36; Normalized
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it plans to release its second quarter 2024 financial results after the U.S. markets close on Thursday, August 1, 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 Friday, August 2, 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 financ
CareTrust REIT, Inc. (NYSE:CTRE) announced today that its Board of Directors has declared a quarterly common stock cash dividend of $0.29 per common share. The current dividend will be payable to common stockholders of record as of the close of business on June 28, 2024. The Company intends to pay the dividend on or about July 15, 2024. About CareTrust REIT™ CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality opera
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 5-facility, 498 licensed bed, skilled nursing portfolio located in the Southeastern United States for a total investment amount of approximately $80.9 million (inclusive of transaction costs). In connection with the acquisition, the company entered into a new triple-net master lease with affiliates of YAD Healthcare, a new operator relationship for the company and an experienced skilled nursing operator with facilities across multiple states in the Mid-Atlantic and Southeastern regions. The new master lease has an initial term of 10 years with two, 5-year extension options and provides for a year 1 contractual lease y
Conference Call Scheduled for Friday, May 3, 2024 at 1:00 pm ET CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended March 31, 2024, as well as other recent events. For the quarter, CareTrust REIT reported: Investments of $118.8 million during the quarter and $206.5 million year-to-date at an estimated stabilized yield of 11.1% and 10.5%, respectively, after rent ramps under the applicable leases are completed; 11.6 million shares sold under its ATM Program for gross proceeds of $273.2 million; 98.0% of contractual rent and interest collected; Net income of $28.7 million and net income per share of $0.22; Net Debt to Annualized Normalize
CareTrust REIT, Inc. (NYSE:CTRE) announced today that it plans to release its first quarter 2024 financial results after the U.S. markets close on Thursday, May 2, 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 Friday, May 3, 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 7862003. To listen to the call online as a webcast, or to view any financial or
CareTrust REIT, Inc. (NYSE:CTRE) announced today that its Board of Directors has increased its quarterly common stock cash dividend from $0.28 to $0.29 per common share. The current dividend will be payable to common stockholders of record as of the close of business on March 28, 2024 and management affirmed that the company plans to pay the dividend on or about April 15, 2024. Dave Sedgwick, CareTrust's Chief Executive Officer, commented that "We continue our balanced approach to maintaining our pattern of annually increasing our dividend while also retaining our least expensive form of capital for future investments." About CareTrust™ CareTrust REIT, Inc. is a self-administered, pub
CareTrust REIT, Inc. (NYSE:CTRE) announced today the acquisition of three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs. The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust's existing master lease with affiliates of PACS Group, Inc., who has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston, Texas and one is located in Columbia, Missouri. The acquisition adds three facilities to CareTrust's relationship with PACS and increases annual rent under the existing master lease by approximately $5,002,000. As part of the transaction, the tena