Financial Data and Key Metrics Changes - Normalized FFO increased by 67.4% year-over-year to $77,800,000, while normalized FAD rose by 66% to $80,800,000 [16] - On a per share basis, normalized FFO increased by $0.07 or 20% to $0.42, and normalized FAD increased by $0.06 or 16.2% to $0.43 [16] Business Line Data and Key Metrics Changes - In Q1, the company completed three new investments totaling over $47,000,000 at a yield of approximately 10% [11] - Year-to-date investment total reached approximately $82,000,000 at a yield of approximately 10% [12] Market Data and Key Metrics Changes - The acquisition of Care REIT will diversify the company's business, reducing U.S. Skilled Nursing concentration to approximately 49% by property count and 63% by rental income [7] - The investment pipeline currently sits at approximately $500,000,000, primarily consisting of skilled nursing facilities and senior housing opportunities [13] Company Strategy and Development Direction - The strategic acquisition of Care REIT marks the company's entry into the UK market and is expected to be accretive in year one [9] - The company aims to leverage its strong balance sheet and access to capital to pursue growth opportunities in both the U.S. and UK markets [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the overall portfolio, with a focus on monitoring potential Medicaid cuts while maintaining bipartisan support for senior care [25] - The company anticipates a strong investment pipeline in the UK, although it may take time to mature [62] Other Important Information - The company raised guidance for normalized FFO per share to $1.69 to $1.73 and for normalized FAD per share to $1.73 to $1.77 for the year [17] - Liquidity remains strong, with a net debt to normalized EBITDA ratio of 0.5 times and a fixed charge coverage ratio of 15.2 times [20] Q&A Session Summary Question: Comments on macro expectations regarding policy and provider taxes - Management stated there is no significant change in outlook regarding potential Medicaid cuts and continues to monitor the budget process [25] Question: Conditions for entering into a debt investment - The company prioritizes acquisitions but may consider debt investments if they build strategic relationships that lead to future growth [27] Question: Changes to annualized earnings or FAD accretion from the Care REIT transaction - Management indicated that detailed answers would be provided after the deal announcement [32] Question: Reasonable volume or investment pipeline for the UK market - The pipeline in the UK is expected to take time to mature, with a range of cap rates potentially wider than in the U.S. [34] Question: Update on the performance of properties over the last six to nine months - Management indicated that they are still waiting for financial disclosures from operators but feel confident about the overall portfolio performance [39] Question: Access to financing for operators - Management reported no significant challenges in access to financing for operators at this time [80]

Financial Data and Key Metrics Changes - Normalized FFO increased by 67.4% year-over-year to $77,800,000, while normalized FAD rose by 66% to $80,800,000 [18] - On a per share basis, normalized FFO increased by $0.07 or 20% to $0.42, and normalized FAD increased by $0.06 or 16.2% to $0.43 [18] - Total cash rental revenues for the year are projected to be approximately $284,000,000, excluding amortization of lease intangibles [20] Business Line Data and Key Metrics Changes - In Q1, the company completed three new investments totaling over $47,000,000 at a yield of approximately 10% [12] - Year-to-date investment total reached approximately $82,000,000 at a yield of approximately 10% [13] - The investment pipeline is currently strong, sitting at approximately $500,000,000, primarily consisting of real estate acquisitions [14] Market Data and Key Metrics Changes - The acquisition of Care REIT will diversify the company's business in terms of operator concentration, geography, payer sources, and asset classes [9] - The deal is expected to bring U.S. Skilled Nursing concentration down to approximately 49% by property count and 63% by rental income [9] Company Strategy and Development Direction - The strategic acquisition of Care REIT marks the company's entry into the UK market and is the largest deal in its history [6] - The acquisition is expected to be accretive in year one and adds a new growth engine for the company [10] - The company is focused on ensuring that its U.S. growth engine remains robust while expanding into the UK [11] Management's Comments on Operating Environment and Future Outlook - Management is monitoring potential Medicaid cuts but sees bipartisan support for Medicaid and care for seniors in nursing homes [28] - The company is optimistic about the strength of its overall portfolio, with coverage ratios improving [78] - Management expressed confidence in the UK market's potential and is actively reviewing acquisition opportunities [15] Other Important Information - The company raised guidance for normalized FFO per share to $1.69 to $1.73 and for normalized FAD per share to $1.73 to $1.77 [19] - Liquidity remains strong, with a net debt to normalized EBITDA ratio of 0.5 times and a fixed charge coverage ratio of 15.2 times [22][23] Q&A Session Summary Question: Comments on macro expectations regarding policy and provider taxes - Management is monitoring the process regarding potential Medicaid cuts and sees bipartisan support for Medicaid [28] Question: Conditions for entering into a debt investment - The company prioritizes acquisitions but may consider debt investments if they build strategic relationships [30] Question: Changes to annualized earnings or FAD accretion from the Care REIT transaction - Management will provide answers regarding the Care REIT transaction in a week [35] Question: Reasonable volume or investment pipeline for the UK market - The UK pipeline will take time to mature, with a wider range of cap rates expected compared to the U.S. [37] Question: Update on the performance of properties over the last six to nine months - Management is waiting for financial disclosures but believes the coverage ratios are strong [42] Question: Trends regarding cash-paying tenants and overall portfolio strength - Management feels confident about the strength of the overall portfolio and is managing non-paying tenants [78] Question: Access to financing for operators - Management is not seeing challenges in access to financing for operators [86]

Core Insights - CareTrust REIT reported revenue of $96.62 million for Q1 2025, a year-over-year increase of 53.2% [1] - The EPS for the same period was $0.42, compared to $0.22 a year ago [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $96.85 million, resulting in a surprise of -0.24% [1] - The company experienced an EPS surprise of -2.33%, with the consensus EPS estimate being $0.43 [1] Revenue Breakdown - Rental income was reported at $71.65 million, exceeding the average estimate of $68.40 million by two analysts, representing a year-over-year increase of 33.9% [4] - Interest income from other real estate-related investments and other income was $22.17 million, slightly below the average estimate of $22.35 million, but showing a significant year-over-year increase of 131.7% [4] Stock Performance - CareTrust REIT shares returned +2.5% over the past month, while the Zacks S&P 500 composite experienced a -0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

分组1 - CareTrust REIT reported quarterly funds from operations (FFO) of $0.42 per share, missing the Zacks Consensus Estimate of $0.43 per share, but showing an increase from $0.35 per share a year ago [1] - The company posted revenues of $96.62 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.24%, compared to $63.07 million in the same quarter last year [2] - CareTrust REIT shares have increased by approximately 8.2% since the beginning of the year, contrasting with a decline of 5.3% in the S&P 500 [3] 分组2 - The current consensus FFO estimate for the upcoming quarter is $0.44 on revenues of $99.85 million, and for the current fiscal year, it is $1.75 on revenues of $374.08 million [7] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the bottom 35% of over 250 Zacks industries, suggesting potential challenges for performance [8] - The estimate revisions trend for CareTrust REIT is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]

Company Overview - CareTrust REIT has expanded its portfolio to 249 net-leased healthcare properties across 32 states with 27,229 operating beds/units as of March 31, 2025 [15] - The company also holds 21 other real estate related investments tied to 113 healthcare properties across 17 states, consisting of 11,968 operating beds/units, and one financing receivable related to 46 properties in one state consisting of 3,820 operating beds/units [15] - As of March 31, 2025, the company's investments totaled $3,633 million across 408 properties with 43,017 operating beds/units in 34 states [19] Financial Performance - For the three months ended March 31, 2025, total revenues were $96621 thousand, including $71646 thousand in rental income and $2807 thousand in interest income from financing receivable [49] - Net income attributable to CareTrust REIT, Inc for the three months ended March 31, 2025, was $65802 thousand, or $035 per basic and diluted share [49] - Normalized FFO attributable to CareTrust REIT, Inc for the quarter ended March 31, 2025, was $77848 thousand, or $042 per share [50] - Normalized FAD attributable to CareTrust REIT, Inc for the quarter ended March 31, 2025, was $80800 thousand [51] Portfolio Composition and Diversification - As of March 31, 2025, skilled nursing facilities comprised 579% of the total investment in real estate properties, generating 592% of the total rent/interest with a current yield of 102% [33] - The Ensign Group is the largest tenant, accounting for 272% of total rent from net-leased assets [34] - California represents the largest geographic concentration, contributing 221% of total rent and interest [39] Debt and Capital Structure - As of March 31, 2025, total debt was $825 million, with a weighted average interest rate of 4698% [59] - The company has a $400 million senior unsecured notes payable at 3875% due in 2028 and $425 million outstanding on its unsecured revolving credit facility [59] - The company's consolidated leverage ratio was 209% as of March 31, 2025, well below the maximum requirement of 60% [64] Future Outlook - The company's full-year 2025 guidance for Normalized FFO is $169 to $173 per share and for Normalized FAD is $173 to $177 per share [65]

Exhibit 99.1 CareTrust REIT Announces First Quarter 2025 Operating Results Conference Call Scheduled for Friday, May 2, 2025 at 1:00 pm ET SAN CLEMENTE, Calif., May 1, 2025 (BUSINESS WIRE) -- CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended March 31, 2025, as well as other recent events. For the quarter, CareTrust REIT reported: Since quarter end, CareTrust REIT reports: CareTrust's President and Chief Executive Officer, Dave Sedgwick, commented on the Company's recent ...

Company Overview - As of March 31, 2025, CareTrust REIT owned 255 skilled nursing facilities and related properties with a total of 27,672 operational beds and units across 32 states[138]. - The company announced a planned acquisition of Care REIT plc for approximately $856 million, which includes a cash offer of 108 pence per share and the assumption of net debt[140]. - The acquisition of Care REIT plc is expected to be completed in May 2025, subject to customary conditions[142]. Financial Performance - During the three months ended March 31, 2025, CareTrust REIT collected 99.2% of contractual rents and interest due from operators and borrowers[144]. - Rental income increased by approximately $9.4 million, reaching $71,646, a 15% increase compared to the previous quarter[162]. - Interest income from financing receivable rose by $1.8 million, totaling $2,807, reflecting a 178% increase[162]. - The company recorded a net gain on the sale of real estate of $3,876 during the three months ended March 31, 2025[162]. - Total contractual rent increased by $9.5 million, driven by a $9.1 million increase in rental income from real estate investments made after September 30, 2024[162]. - Total contractual rent increased by $17.8 million, driven by an $18.4 million increase in rental income from real estate investments made after December 31, 2023[176]. - Interest income from financing receivable recorded $2.8 million during the three months ended March 31, 2025[177]. - Interest and other income increased by $12.6 million, primarily due to a $13.2 million increase from the origination of loans receivable after December 31, 2023[178]. Expenses and Charges - Depreciation and amortization expenses increased by $2.3 million, or 15%, primarily due to acquisitions and capital improvements[165]. - Interest expense rose by approximately $1.5 million, totaling $6,669, a 30% increase compared to the previous quarter[166]. - The company recognized $888,000 in transaction costs related to unsuccessful acquisition pursuits during the three months ended March 31, 2025[168]. - No impairment charges were recognized during the three months ended March 31, 2025, compared to an impairment charge of $2.7 million in the same period of 2024[158]. - General and administrative expenses decreased by $263,000, totaling $9,023[171]. - The net loss attributable to noncontrolling interests increased by $429,000, reaching a total of $609, reflecting a 238% increase[162]. - Depreciation and amortization increased by $4.4 million, or 33%, primarily due to acquisitions and capital improvements made after December 31, 2023[179]. - Interest expense decreased by $1.6 million, with total decreases due to prepayment of Term Loan amounting to $3.6 million[180]. - General and administrative expenses increased by $2.2 million, with share-based compensation rising by $1.8 million[184]. Cash Flow and Financing - Net cash provided by operating activities increased by $22.6 million to $71.4 million for the three months ended March 31, 2025, compared to $48.8 million for the same period in 2024[195]. - Cash used in investing activities decreased significantly from $123.2 million in 2024 to $35.9 million in 2025[196]. - Cash flows from financing activities included $425.0 million in borrowings under the Third Amended Revolving Facility for the three months ended March 31, 2025[197]. - The company plans to pay approximately $597 million in cash for the acquisition of Care REIT plc, with $606 million deposited in escrow[188]. - The company entered into a Third Amended Credit Agreement providing for an unsecured revolving credit facility with an aggregate principal amount of $1.2 billion[201]. - As of March 31, 2025, the company had borrowings outstanding of $425.0 million under the Third Amended Revolving Facility[203]. - Future borrowings under the Third Amended Revolving Facility will be used for working capital, capital expenditures, acquisitions, and general corporate purposes[201]. - The interest rates applicable to loans under the Third Amended Revolving Facility range from 0.05% to 0.55% per annum for base rate loans and from 1.05% to 1.55% per annum for SOFR-based loans[204]. - An increase of 100 basis points in interest rates would have increased interest expense by approximately $1.1 million for the three months ended March 31, 2025[212]. - The company has committed to fund expansions and capital improvements totaling $7.2 million, with $6.3 million subject to rent increase at the time of funding[206]. - The company is required to pay dividends to maintain its REIT status, with quarterly payments expected to be no less than 90% of annual REIT taxable income[207]. - As of March 31, 2025, the company was in compliance with all applicable financial covenants under the Third Amended Credit Agreement[205]. - The company has non-real estate secured loan commitments of $12.2 million as of March 31, 2025[206]. - The company may seek to increase the aggregate principal amount of revolving commitments and/or establish new tranches of term loans not exceeding $800.0 million under the Third Amended Credit Facility[202]. Market Conditions - The Centers for Medicare and Medicaid Services proposed a 2.8% increase in Medicare Part A payments to skilled nursing facilities for fiscal 2026, following a 4.2% increase in fiscal 2025[145]. - Recent macroeconomic conditions, including inflation and elevated interest rates, have negatively impacted tenants' ability to meet financial obligations[143].

Core Insights - Four companies, including JPMorgan Chase, Williams-Sonoma, Tencent Music Entertainment, and CareTrust REIT, have announced dividend increases of 10% or more, indicating financial strength and commitment to shareholder returns [1] Group 1: JPMorgan Chase - JPMorgan Chase announced a 12% increase in its quarterly dividend, raising it to $1.40 per share, payable on April 30 to shareholders of record as of April 4 [2] - The company has a dividend yield of 2.26% and a 15-year track record of increasing dividends, with an annualized 3-year dividend growth rate of 8.10% [2][3] - If the dividend remains stable, the indicated yield will be 2.3%, which is significantly higher than the S&P 500's yield of 1.2% [4] Group 2: Williams-Sonoma - Williams-Sonoma is increasing its dividend by 16%, resulting in a payment of $0.66 per share, payable on May 24 to shareholders of record as of April 17 [6] - The company has a strong dividend growth history, with a 20-year track record and a 3-year annualized dividend growth rate of 20.51% [6][7] - The indicated yield is now 1.55%, which is below its average trailing 12-month yield of 1.9% [8] Group 3: Tencent Music Entertainment - Tencent Music Entertainment is raising its dividend by 31% to $0.18 per American depository share (ADS) for 2025, with payment expected on or around April 24 [9][10] - The company also announced a $1 billion share buyback program, representing 4.5% of its market capitalization of just over $22 billion [11] - The current dividend yield is just under 1.3% based on the March 21 closing price [10] Group 4: CareTrust REIT - CareTrust REIT is increasing its quarterly dividend by over 15%, resulting in a payment of just under $0.34, payable on or about April 15 to shareholders of record as of March 31 [12] - The REIT has an indicated dividend yield of 4.62% and a 3-year annualized dividend growth rate of 3.42% [12][13] - The company's dividend payout ratio is 169.62%, which is high but typical for REITs, as the average payout ratio for healthcare REITs was 82% in Q3 2024 [14]

Core Insights - CareTrust REIT, Inc. (NYSE: CTRE) has demonstrated strong and growing fundamentals along with a solid balance sheet, indicating a positive outlook for the company [2]. Group 1: Company Overview - CareTrust REIT focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1]. - The company has a beneficial long position in its shares, indicating confidence in its future performance [3]. Group 2: Investment Strategy - The investment approach emphasizes defensive stocks with a medium- to long-term horizon, aligning with the current market conditions [2].

Financial Data and Key Metrics Changes - Normalized FFO increased by 68.1% year-over-year to $72.9 million, while normalized FAD rose by 63.7% to $74.3 million [26] - On a per-share basis, normalized FFO increased by 11.1% to $0.40, and normalized FAD also increased by 10.8% to $0.41 [26][28] - The company initiated guidance for normalized FFO per share of $1.68 to $1.72 and for normalized FAD per share of $1.72 to $1.76 for the year [28] Business Line Data and Key Metrics Changes - The company completed new investments totaling just over $1.5 billion in 2024, with an estimated stabilized yield of 9.7% [19] - During the fourth quarter, the company added 81 triple net facilities to the portfolio along with several new operators [20] Market Data and Key Metrics Changes - The investment pipeline is robust, currently sitting at approximately $325 million, primarily consisting of skilled nursing facilities and some senior housing [22][24] - Cap rates for skilled nursing remain stable between 12.5% to 13.5%, while there is slight compression in senior housing cap rates [45] Company Strategy and Development Direction - The company remains focused on long-term FFO per share growth, emphasizing the importance of matching the right operators with the right opportunities [12] - The management is optimistic about external growth opportunities, expecting significant deal flow similar to the previous year [17][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the operating environment, with most parts of the portfolio at or ahead of pre-pandemic occupancy levels [14] - There is optimism regarding Medicaid and Medicare policies, with expectations that the minimum staffing rule will be reversed and that Medicaid will remain a cornerstone of healthcare [15][54] Other Important Information - The company has $180 million in cash and $1.2 billion available under a new revolver, maintaining strong liquidity [32][33] - The net debt normalized EBITDA ratio stands at 0.5 times, with a fixed charge coverage ratio of 17 times [33] Q&A Session Summary Question: Future investment activity and pipeline expansion - Management indicated that the pipeline is expected to broaden, with potential for both existing and new operators [38] Question: Bad debt concerns related to PACS - Management confirmed there is no bad debt included in guidance and does not expect any from PACS or other operators [42] Question: Cap rate shifts and compression - Cap rates for skilled nursing remain stable, while slight compression is noted in senior housing [45] Question: Cost of debt and equity considerations - Management discussed the balance between using equity and the revolver based on the investment pipeline and market conditions [50][61] Question: Medicaid reimbursement expectations - Management does not expect negative surprises in Medicaid reimbursement and noted optimism for potential increases in Texas [106] Question: PACS investment appetite - Management is in a holding pattern regarding PACS until they release earnings, indicating caution [90] Question: Senior housing deal flow and appetite - Management expressed ongoing interest in senior housing, contingent on finding the right entry points [84] Question: Future coverage ratios for new operators - Management indicated that stabilization for new operators may take longer, with specific timelines varying by operator [77]