CareTrust REIT Q2 net income $20.7M, normalized FFO $35.6M, collects 93.9% of rents

CareTrust REIT, Inc.

2022-Q2 EPS reported -$0.24 revenue$94,029,000

Net income $20.7M ($0.21/diluted EPS); Normalized FFO $35.6M ($0.37/share); Normalized FAD $37.5M ($0.39/share).
Collected 93.9% of contractual rents in Q2; skilled nursing occupancy up 98 bps, seniors housing up 215 bps QoQ.
Completed $100M in debt investments: $75M C-piece at ~8.4% (5-yr), $25M mezzanine at 11% (10-yr) plus $22.3M California loan.
Maintained $0.275 quarterly dividend; payout ratio ~71% on normalized FAD.
No FY2022 guidance issued; management cites need for disposition timing visibility.

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