Financial Data and Key Metrics - Normalized FFO increased 52% YoY to $52 million, and normalized FAD increased 49.5% to $54 million [17] - Normalized FFO per share increased $0.01 to $0.36, and normalized FAD per share also increased $0.01 to $0.37 [17] - The company raised its 2024 guidance for normalized FFO per share to $1.46-$1.48 and normalized FAD per share to $1.50-$1.52 [18] - Total cash rental revenues for 2024 are projected to be $212-$213 million, with CPI rent escalations of 2.5% [18] - Interest income is expected to be $61 million, with $48 million from the loan portfolio and $13 million from money market funds [19] - Interest expense is projected at $34 million, with an assumed interest rate of 6.9% for the term loan [19] - G&A expense is estimated at $25-$27 million, including $5.8 million of deferred stock compensation [19] Business Line Data and Key Metrics - Property-level EBITDAR coverage was 2.17x, and EBITDARM coverage was 2.78x [8] - Skilled nursing occupancy surpassed pre-pandemic levels, with skilled mix settling 330 bps higher than pre-pandemic levels [9] - Assisted living occupancy increased 280 bps YoY and 180 bps QoQ [9] - The company closed $268 million in Q2 investments at a stabilized yield of 9.9%, including acquisitions and mortgage loans [12][13] - Year-to-date investments totaled $765 million at an average yield of 9.5% [16] Market Data and Key Metrics - Medicare rates for fiscal year 2025 will increase by 4.2% [10] - The skilled nursing acquisition market is competitive, with pricing increasing due to post-COVID performance improvements [14] - Small and midsize regional operators are selling portfolios due to COVID exhaustion, loan maturities, and regulatory challenges [15] Company Strategy and Industry Competition - The company focuses on long-term thinking, operator-first decisions, and maintaining a conservative balance sheet [7] - Investments are made with a focus on quality care and value creation, avoiding growth for growth's sake [7] - The company leverages its operational roots, strong capitalization, and nimbleness to provide certainty for sellers and accelerate growth [15] - The pipeline includes $270 million of real estate acquisitions, with potential for larger portfolio opportunities to diversify tenant relationships [16] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong first half of 2024, with record investments and equity issuance [5] - The company is positioned to capitalize on demographic tailwinds expected to last for decades [21] - Labor market normalization is improving, with agency expenses dropping 35% YoY [43] - The company expects to complete transitions and dispositions of underperforming assets by year-end [29][42] Other Important Information - The company has $100 million in cash and $600 million available under its revolver, with a net debt to normalized EBITDA ratio of 0.4x [20] - Leverage is at an all-time low, with a net debt to enterprise value of 2.6% and a fixed charge coverage ratio of 8.2x [20] - The company plans to continue funding its pipeline with equity as long as equity prices remain favorable relative to long-term debt costs [20] Q&A Session Summary Question: How does the company balance acquisition expectations with underwriting discipline? - The company focuses on relationships, operator selection, and creative transaction structures to maintain discipline while pursuing opportunities [23] Question: What is the mix of new vs. existing relationships in the pipeline? - The pipeline includes both new and existing relationships, with a mix of deal sources from brokers, operators, and recent partnerships [24] Question: Thoughts on the leverage target range of 4-5x? - The company maintains flexibility to stay below the target range to fuel growth but may increase leverage if significant growth opportunities arise [26] Question: How does the company view capital recycling for future investments? - Capital recycling will be limited and specific to underperforming assets, with no significant impact on funding growth [28] Question: What are the underwriting standards for new deals? - The company targets 1.4x coverage and yields in the 9% range, with enhanced collaboration on underwriting for assets not yet stabilized [32] Question: What are the cap rates for recent transactions? - Cap rates remain within historical ranges, with some flexibility for larger deals to ensure sustainable rent streams [33] Question: What is the yield expectation for the $270 million pipeline? - Yields are expected to remain in the mid-9% range, consistent with historical levels [37] Question: Impact of labor market normalization on tenants? - Labor market normalization is improving, with agency expenses down 35% YoY, providing tailwinds for coverage [43] Question: Thoughts on future Medicare rate increases? - Medicare rate increases may remain elevated due to lagging inflationary effects, but future trends are uncertain [49] Question: Is there a limit on the loan book size? - No immediate limits, with the loan book tied to expected off-market acquisitions [50]

For the quarter ended June 2024, CareTrust REIT (CTRE) reported revenue of $68.89 million, up 33.6% over the same period last year. EPS came in at $0.36, compared to $0.00 in the year-ago quarter. The reported revenue represents a surprise of +3.81% over the Zacks Consensus Estimate of $66.36 million. With the consensus EPS estimate being $0.36, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

CareTrust REIT (CTRE) came out with quarterly funds from operations (FFO) of $0.36 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.35 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this health care real estate investment trust would post FFO of $0.37 per share when it actually produced FFO of $0.35, delivering a surprise of -5.41%. Over the last four quarters, the company has not been able to surpass consensus FF ...

Exhibit 99.1 CareTrust REIT Announces Second Quarter 2024 Operating Results Conference Call Scheduled for Friday, August 2, 2024 at 1:00 pm ET SAN CLEMENTE, Calif., August 1, 2024 (BUSINESS WIRE) -- CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended June 30, 2024, as well as other recent events. For the quarter, CareTrust REIT reported: • Investments of $267.7 million during the quarter at an estimated stabilized yield of 9.9%; • 12.1 million shares sold under its ATM Pr ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36181 CareTrust REIT, Inc. (Exact name of registrant as specified in its charter) Maryland 46-3999490 (State o ...

baona/iStock via Getty Images There are other stocks or sectors that are good investments as well, but REITs are usually a good addition as a result of their business structures. One REIT in particular that I think deserves a spot in your portfolio is CareTrust REIT (NYSE:CTRE). In this article, I discuss the company's latest earnings, fundamentals, and why they deserve a spot in your portfolio. Positioned For Further Growth If you're a dividend investor or someone highly focused on income generation, then ...

● CISE Property 124 ca s Apr 18 May 21 tan 23 You can access all company results here. CareTrust REIT is a triple net lease healthcare REIT investing primarily in Skilled Nursing facilities (70% of the portfolio), followed by Multi-Service Campus (22%) and Seniors Housing (8%): From a geographic perspective, the company is tilted to the Sun Belt region, with California (28% of revenue) and Texas (19%) the two single largest exposures: Revenue breakdown by state (CareTrust REIT June 2024 Investor Presentatio ...

What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy. What do the Analysts Think? Clearly, opti ...

CareTrust REIT, Inc. (NYSE:CTRE) Q1 2024 Results Conference Call May 3, 2024 1:00 PM ET Company Participants Lauren Beale - Senior Vice President and Controller Dave Sedgwick - President and Chief Executive Officer Bill Wagner - Chief Financial Officer Conference Call Participants Jonathan Hughes - Raymond James Juan Sanabria - BMO Capital Markets Michael Carroll - RBC Capital Markets Tayo Okusanya - Deutsche Bank Alec Feygin - Baird Austin Wurschmidt - KeyBanc Capital Markets Joe Dickstein - Jefferies Oper ...

Exhibit 99.1 Conference Call Scheduled for Friday, May 3, 2024 at 1:00 pm ET • 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; • Net Debt to Annuali ...