Financial Data and Key Metrics Changes - Normalized FFO increased by 66% year-over-year to $60.9 million, while normalized FAD increased by 60% to $61.9 million [32] - On a per-share basis, normalized FFO rose by $0.03 to $0.38, and normalized FAD increased by $0.02 to $0.39 [32] - The company raised its guidance for normalized FFO per share from a range of $1.46 - $1.48 to $1.49 - $1.50, and for normalized FAD per share from $1.50 - $1.52 to $1.53 - $1.54 [34] Business Line Data and Key Metrics Changes - The company announced record-setting investments of approximately $917 million at an average stabilized yield of 9.4% [9] - Year-to-date investments and announced pending deals are projected to exceed $1.4 billion at an average stabilized yield of 9.3% [9][11] - The company has a pipeline of $700 million, primarily consisting of real estate acquisitions [11][24] Market Data and Key Metrics Changes - The skilled nursing transactions market remains active with strong deal flow, particularly from regional owner-operators and smaller independent owners [28] - Improvement in operating metrics, including occupancy, is noted, with increased interest in senior housing assets with AL Medicaid waiver components [30] Company Strategy and Development Direction - The company is focused on expanding its influence through strategic acquisitions and partnerships with proven operators [7][14] - A disciplined underwriting approach is maintained, emphasizing quality over growth for growth's sake [14][81] - The company is open to exploring opportunities in senior housing, contingent on finding suitable operators and deals [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the operating environment and the potential for future growth driven by demographic trends [86][88] - The company anticipates a full-year impact of this year's investments to produce meaningful FFO per share growth without additional investments [40] Other Important Information - The company completed approximately $441 million of new investments during the third quarter, including a significant loan and preferred equity investment [21] - The net debt to EBITDA ratio reached an all-time low of 0.08 times, indicating strong financial health [38] Q&A Session Summary Question: Discussion on investment volume and deal structure - Management acknowledged that more complex deal structures have become necessary to close transactions, often facilitated through established relationships [43] Question: Mix of investments in the pipeline - The majority of the $200 million pipeline consists of real estate acquisitions, with minimal loan activity [45] Question: Interest in senior housing opportunities - Management is open to exploring senior housing opportunities if they meet specific criteria regarding size and operator quality [47] Question: Coverage of assets in the portfolio deal - The going-in coverage ratio for the new portfolio is just shy of 1, with stabilized pro forma expectations around 1.5 [51] Question: Competition in the acquisition market - The acquisition market remains competitive, with a narrow buyer pool, but management believes their established relationships provide a distinct advantage [54] Question: Nature of the joint venture structure - The joint venture includes a significant amount of preferred equity, with a call right for the company to acquire the entire venture in the future [56] Question: Confidence in managing risks associated with rapid growth - Management emphasized their consistent underwriting discipline and the importance of matching operators with the right deals [81] Question: Future reimbursement rates and their impact - Management expressed confidence in returning to a stable operating environment, with demographic trends supporting future growth despite potential normalization of reimbursement rates [86][88]

Financial Supplement 97 CARETRUST R E I T Third Quarter 2024 Disclaimers This supplement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the following: future financial and financing plans; strategies related to the Company's business and its portfolio, including acquisition opportunities and disposition plans; growth prospects, ...

For the quarter ended September 2024, CareTrust REIT (CTRE) reported revenue of $77.38 million, up 38.5% over the same period last year. EPS came in at $0.38, compared to $0.08 in the year-ago quarter. The reported revenue represents a surprise of +4.40% over the Zacks Consensus Estimate of $74.12 million. With the consensus EPS estimate being $0.38, the company has not delivered EPS surprise. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...

分组1 - CareTrust REIT reported quarterly funds from operations (FFO) of $0.38 per share, matching the Zacks Consensus Estimate and showing an increase from $0.35 per share a year ago [1] - The company achieved revenues of $77.38 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 4.40% and up from $55.88 million year-over-year [2] - CareTrust REIT shares have increased approximately 39.9% year-to-date, outperforming the S&P 500's gain of 22.1% [3] 分组2 - The current consensus FFO estimate for the upcoming quarter is $0.39 on revenues of $75.98 million, and for the current fiscal year, it is $1.48 on revenues of $283.63 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is in the top 24% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Exhibit 99.1 CareTrust REIT Announces Third Quarter 2024 Operating Results Conference Call Scheduled for Wednesday, October 30, 2024 at 1:00 pm ET SAN CLEMENTE, Calif., October 29, 2024 (BUSINESS WIRE) -- CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended September 30, 2024, as well as other recent events. For the quarter, CareTrust REIT reported: • Investments of $440.8 million at an estimated stabilized yield of 9.1%; • 17.2 million shares sold under its ATM Program fo ...

PART I—FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited condensed consolidated financial statements are presented, covering balance sheets, income statements, equity, cash flows, and detailed explanatory notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets and equity significantly increased from December 2023 to September 2024, driven by real estate investments and paid-in capital, while liabilities decreased | Metric | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :----------------------------------- | :-------------------------------- | :------------------------------- | | Real estate investments, net | $1,749,139 | $1,567,119 | | Other real estate related investments | $740,730 | $180,368 | | Total assets | $2,920,879 | $2,084,838 | | Senior unsecured term loan, net | $— | $199,559 | | Total liabilities | $496,143 | $666,121 | | Additional paid-in capital | $2,950,802 | $1,883,147 | | Total stockholders' equity | $2,422,196 | $1,416,819 | [Condensed Consolidated Income Statements](index=4&type=section&id=Condensed%20Consolidated%20Income%20Statements) Net income substantially increased for both the three and nine months ended September 30, 2024, driven by higher rental and interest income, despite increased impairment charges and operating expenses | Metric | 3 Months Ended Sep 30, 2024 (in thousands) | 3 Months Ended Sep 30, 2023 (in thousands) | 9 Months Ended Sep 30, 2024 (in thousands) | 9 Months Ended Sep 30, 2023 (in thousands) | | :----------------------------------------- | :----------------------------------------- | :----------------------------------------- | :----------------------------------------- | :----------------------------------------- | | Total revenues | $77,381 | $55,877 | $209,342 | $158,036 | | Rental income | $57,153 | $51,218 | $166,062 | $145,126 | | Interest and other income | $20,228 | $4,659 | $43,280 | $12,910 | | Impairment of real estate investments | $8,417 | $8,232 | $36,872 | $31,510 | | Property operating expenses | $3,477 | $1,239 | $4,392 | $2,860 | | Net income attributable to CareTrust REIT, Inc. | $33,441 | $8,696 | $72,945 | $27,439 | | Basic EPS | $0.21 | $0.08 | $0.50 | $0.27 | | Diluted EPS | $0.21 | $0.08 | $0.50 | $0.27 | [Condensed Consolidated Statements of Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Equity) Total equity significantly increased from December 2023 to September 2024, primarily due to substantial common stock issuance and net income, partially offset by dividends | Metric | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--------------------------------------- | :-------------------------------- | :------------------------------- | | Common Shares Outstanding | 171,122,858 | 129,992,796 | | Common Stock Amount | $1,711 | $1,300 | | Additional Paid-in Capital | $2,950,802 | $1,883,147 | | Cumulative Distributions in Excess of Earnings | $(530,317) | $(467,628) | | Total Stockholders' Equity | $2,422,196 | $1,416,819 | | Total Equity | $2,424,736 | $1,418,717 | - Issuance of common stock, net, contributed **$1,065,881 thousand** to additional paid-in capital during the nine months ended September 30, 2024[10](index=10&type=chunk)[130](index=130&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company reported a significant net increase in cash for the nine months ended September 30, 2024, driven by strong operating and financing cash flows, despite increased investing activities | Cash Flow Activity | 9 Months Ended Sep 30, 2024 (in thousands) | 9 Months Ended Sep 30, 2023 (in thousands) | | :--------------------------------------- | :----------------------------------------- | :----------------------------------------- | | Net cash provided by operating activities | $169,043 | $112,096 | | Net cash used in investing activities | $(828,087) | $(232,305) | | Net cash provided by financing activities | $741,698 | $110,516 | | Net increase (decrease) in cash | $82,654 | $(9,693) | | Cash and cash equivalents, end of period | $377,102 | $3,485 | - Investing activities saw a substantial increase in cash usage, primarily for acquisitions of real estate (**$267.4 million**), preferred equity investments (**$52.0 million**), and other real estate related investments and loans receivable (**$504.9 million**)[12](index=12&type=chunk) - Financing activities were significantly boosted by **$1,065.9 million** in net proceeds from common stock issuance, offsetting the **$200.0 million** prepayment of the Term Loan and **$75.0 million** payment on secured borrowing[12](index=12&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and breakdowns of financial statement line items, significant accounting policies, and other relevant financial information [1. ORGANIZATION](index=9&type=section&id=1.%20ORGANIZATION) CareTrust REIT, Inc. is a publicly-traded REIT focused on acquiring, financing, developing, and owning real property for lease to third-party healthcare operators - As of September 30, 2024, the Company owned **226 skilled nursing facilities, multi-service campuses, assisted living facilities, and independent living facilities**, comprising **24,512 operational beds and units** in 31 states[14](index=14&type=chunk) - Other real estate related investments, including preferred equity and loans receivable, had a carrying value of **$740.7 million** as of September 30, 2024[14](index=14&type=chunk) [2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES](index=9&type=section&id=2.%20SUMMARY%20OF%20SIGNIFICANT%20ACCOUNTING%20POLICIES) The condensed consolidated financial statements are prepared in accordance with GAAP for interim financial information and Article 10 of Regulation S-X - Financial statements are prepared under GAAP for interim information and Article 10 of Regulation S-X, and should be read with the annual 10-K[15](index=15&type=chunk) - The company consolidates wholly-owned subsidiaries and Variable Interest Entities (VIEs) where it exercises control, eliminating intercompany transactions[15](index=15&type=chunk) [3. REAL ESTATE INVESTMENTS, NET](index=9&type=section&id=3.%20REAL%20ESTATE%20INVESTMENTS,%20NET) Net real estate investments significantly increased to $1.75 billion as of September 30, 2024, with all owned facilities leased under triple-net agreements | Metric | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :----------------------------------- | :-------------------------------- | :------------------------------- | | Real estate investments, net | $1,749,139 | $1,567,119 | | Buildings and improvements | $1,783,496 | $1,620,014 | - All owned and held-for-investment facilities are leased to various operators under triple-net leases, which contain annual escalators based on CPI or fixed rates[17](index=17&type=chunk) | Year | Future Minimum Lease Payments (in thousands) | | :---------- | :----------------------------------------- | | 2024 (3 mos) | $56,317 | | 2025 | $227,486 | | 2026 | $229,235 | | 2027 | $225,377 | | 2028 | $223,304 | | 2029 | $218,920 | | Thereafter | $1,066,803 | | Total | $2,247,442 | - The Company acquired **14 properties** for **$271.2 million** with an initial annual cash rent of **$21.9 million** during the nine months ended September 30, 2024[22](index=22&type=chunk) - Several lease amendments and terminations occurred, including the Ensign lease amendment increasing annual cash rent by **$0.6 million** and **$2.1 million**, and new leases with Jaybird and Bayshire[23](index=23&type=chunk)[24](index=24&type=chunk)[26](index=26&type=chunk) [4. IMPAIRMENT OF REAL ESTATE INVESTMENTS, ASSETS HELD FOR SALE AND ASSET SALES](index=13&type=section&id=4

Core Viewpoint - CareTrust REIT (CTRE) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system reflects changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - CareTrust REIT is expected to earn $1.49 per share for the fiscal year ending December 2024, representing a year-over-year increase of 5.7% [8]. - Over the past three months, the Zacks Consensus Estimate for CareTrust REIT has increased by 1.4% [8]. Investment Implications - The upgrade to Zacks Rank 2 suggests an improvement in CareTrust REIT's underlying business, which is likely to attract investor interest and push the stock price higher [5][10]. - The Zacks Rank system maintains a balanced approach, with only the top 20% of stocks receiving favorable ratings, indicating a strong potential for market-beating returns [9][10].

Acquisition Details - CareTrust REIT, Inc. (CTRE) acquired four skilled nursing facilities in the Mid-Atlantic for $74.7 million, funded with cash on hand [1] - One facility includes a skilled nursing and assisted living campus with 47 assisted living units [1] Lease Agreement - A triple-net master lease was established with a new operator known for expertise in skilled nursing facilities, featuring an initial term of 15 years and two optional five-year extensions [2] - The first-year contractual lease yield is 9.3%, including transaction costs, with annual Consumer Price Index-based escalators [2] Financing Structure - The purchase of one facility was arranged as a mortgage loan from CareTrust to the operator, aligning terms and economics with the master lease [3] Investment Pipeline - CareTrust's updated investment pipeline stands at $240 million in near-term actionable opportunities, excluding larger portfolios under review [4] - Year-to-date investments exceed $900 million [4] Growth Strategy - CareTrust's inorganic growth strategy and solid financial position support its investment pursuits, with the latest expansion expected to enhance top-line growth [5] - Over the past six months, shares have gained 24.9%, outperforming the industry growth of 16.5% [5]

CareTrust REIT (NYSE: CTRE ), in my opinion, is one of the best ways to gain healthcare exposure. Moreover, if you're a fan of REITs, then this is definitely a stock to consider for your portfolio. With interest rates recently cut by Contributing analyst to the iREIT+Hoya Capital investment group. The Dividend Collectuh is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educational purposes only and I encourage everyone t ...

0 1 2 land Vertigo3d Being validated by the market can be a bittersweet feeling, especially when it comes to dividend payers that you'd like to own more of. For one thing, it's nice to see capital gains on the investment statement, but that also means acquiring new shares has become more expensive. This brings me to CareTrust REIT (NYSE:CTRE), which I last covered in February, highlighting its appealing cap rates on new acquisitions, strong balance sheet, and undervaluation. It appears the market has agreed ...