CareTrust Q1 net loss $43.3M on $59.7M impairments; normalized FFO up 5.2%

CareTrust REIT, Inc.

2022-Q1 EPS reported -$0.45 revenue$46,476,000

Net loss of $43.3M ($0.45 diluted loss) due to $59.7M impairments on assets held for sale.
Normalized FFO $35.9M ($0.37/diluted share), up 5.2% YoY; normalized FAD $37.9M ($0.39/share).
Quarterly dividend increased to $0.275/share (71% normalized FAD payout ratio).
Acquired two skilled nursing facilities for $22M total; added $2.06M annual rent.
No 2022 guidance issued; management cites need for visibility on dispositions and re-tenanting.

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