CareTrust REIT Q1 normalized FFO $0.35/shr, dividend raised to $0.28, $47M acquisitions closed

CareTrust REIT, Inc.

2023-Q1 EPS reported $0.19 revenue$50,606,000

Net income $19.2M ($0.19 EPS); normalized FFO $35.0M ($0.35/shr); normalized FAD $36.6M ($0.37/shr).
Quarterly dividend increased to $0.28/shr (from $0.275), payout ratio ~76% on normalized FAD.
Post-quarter closed 3 acquisitions (~$47M) for 5 facilities; investment pipeline $150M-$200M.
Sold one seniors housing facility for ~$3M; 3 facilities under contract to sell.
Net debt-to-EBITDA 3.8x, below 4-5x target; $500M ATM authorization; forward equity sale of ~1.76M shares at $19.91.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CareTrust REIT, Inc. reported first quarter ended March 31, 2023 results: net income $19.2 million, EPS $0.19.

Period: first quarter ended March 31, 2023
Net income: $19.2 million
EPS: $0.19
Result: reported results

Exact text from the filing

Chief Financial Officer, Bill Wagner, reported that, for the first quarter, CareTrust reported net income of $19.2 million, or $0.19 per diluted weighted-average common share

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Source: SEC EDGAR

accession 0001628280-23-017208

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