Group 1 - The United States is approaching an election, which may impact market dynamics and investor sentiment [1] - High Yield Landlord is an investment group led by Jussi Askola, focusing on real estate investment trusts (REITs) and providing real-time portfolio updates [2] - Jussi Askola is the President of Leonberg Capital, a firm that consults on REIT investing and has established connections with top REIT executives [2] Group 2 - The article emphasizes the importance of understanding the current market environment, especially with the upcoming election [1] - The investment group offers features such as multiple portfolios, buy/sell alerts, and direct access to analysts for investor inquiries [2]

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 ...