CareTrust REIT Q1 net income $0.22/sh; normalized FFO $0.35/sh; dividend raised 3.6% to $0.29

CareTrust REIT, Inc.

2024-Q1 EPS reported $0.22 revenue$63,070,000

Q1 net income $28.7M ($0.22/sh); normalized FFO $0.35/sh; normalized FAD $0.37/sh.
Invested $118.8M in Q1 ($206.5M YTD) at est. stabilized yields 11.1%/10.5%; pipeline $260M.
Quarterly dividend raised 3.6% to $0.29/sh; payout ratio 78% on normalized FAD.
Sold 11.6M shares via ATM for gross $273.2M; net debt/EBITDA 0.6x; $345M cash; no revolver borrowings.
2024 guidance: net income $1.01-$1.03/sh; normalized FFO $1.42-$1.44/sh; normalized FAD $1.46-$1.48/sh.

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 1.0

CareTrust REIT, Inc. reported first quarter ended March 31, 2024 results: net income net income of $28.7 million, EPS normalized FFO per share of $0.35.

Period: first quarter ended March 31, 2024
Net income: net income of $28.7 million
EPS: normalized FFO per share of $0.35
Result: reported results

Exact text from the filing

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;

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CareTrust REIT, Inc. reported first quarter ended March 31, 2024 results: net income net income of $28.7 million, EPS normalized FFO per share of $0.35.

Period: first quarter ended March 31, 2024
Net income: net income of $28.7 million
EPS: normalized FFO per share of $0.35
Result: reported results

Exact text from the filing

CareTrust reported net income of $28.7 million, or $0.22 per diluted weighted-average common share, normalized FFO of $46.5 million, or $0.35 per diluted weighted-average common share, and normalized FAD of $48.7 million, or $0.37 per diluted weighted-average common share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CareTrust REIT, Inc. reported full year 2024 results: EPS net income of approximately $1.01 to $1.03. Guidance reaffirmed.

Period: full year 2024
EPS: net income of approximately $1.01 to $1.03
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company updated guidance for 2024, with Mr. Wagner projecting on a per-diluted weighted-average common share basis net income of approximately $1.01 to $1.03, normalized FFO of approximately $1.42 to $1.44, and normalized FAD of approximately $1.46 to $1.48.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CareTrust REIT, Inc. reported quarter ended March 31, 2024 results: net income net income of $28.7 million, EPS normalized FAD per share of $0.37.

Period: quarter ended March 31, 2024
Net income: net income of $28.7 million
EPS: normalized FAD per share of $0.37
Result: reported results

Exact text from the filing

Normalized FAD of $48.7 million and normalized FAD per share of $0.37;

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CareTrust REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-020001

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