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].

REIT Performance Overview - The REIT sector experienced a total return of -4.92% in March, underperforming the Dow Jones Industrial Average (-4.1%) but faring better than the S&P 500 (-5.6%) and NASDAQ (-8.1%) [1] - The Vanguard Real Estate ETF (VNQ) outperformed the average REIT with a return of -2.58% in March and a year-to-date return of +2.69% compared to -3.36% for the average REIT [1] - The spread between the 2025 FFO multiples of large cap REITs (18.1x) and small cap REITs (12.9x) increased, indicating that investors are paying 40.3% more for each dollar of FFO from large cap REITs [1] Performance by Market Capitalization - Micro cap REITs underperformed significantly with a return of -16.19%, while large cap REITs returned -2.04%, mid caps -2.63%, and small caps -4.16% [3] - Year-to-date, large cap REITs have outperformed small caps by 568 basis points [3] Property Type Performance - Only 33.33% of REIT property types had a positive total return in March, with a 14% spread between the best (Casino +2.40%, Single Family Housing +2.00%) and worst performing property types (Office -11.60%, Hotel -11.11%) [5] - In the first quarter of 2025, Data Centers (-16.35%), Office (-15.95%), and Hotels (-15.74%) were the worst performers, while Health Care (+10.87%), Casino (+10.24%), and Timber (+9.56%) led the sector [6] Average Returns by Property Type - The average returns for various property types in March were as follows: - Office: -11.60% - Hotel: -11.11% - Casino: +2.40% - Single Family Housing: +2.00% - REIT Average: -4.92% [6] Price/FFO Multiples - The average P/FFO for the REIT sector decreased from 14.3x to 13.9x in March, with 27.8% of property types experiencing multiple expansion and 66.7% seeing contraction [8] - Data Centers (25.2x), Land (23.8x), and Multifamily (20.5x) have the highest average multiples, while Hotels (6.2x) and Offices (8.4x) are the only types with single-digit FFO multiples [8] Individual Security Performance - Peakstone Realty Trust (PKST) was the best performing REIT in March with a return of +13.10%, followed by Crown Castle (CCI) at +12.44% and CareTrust REIT (CTRE) at +11.77% [10] - Wheeler REIT (WHLR) continued its decline with a staggering -75.88% return in March, marking a -95.31% drop in the first three months of 2025 [11] Dividend Yield Insights - High dividend yields are a significant attraction for investors in the REIT sector, especially as many REITs are trading below their NAV, leading to opportunities for attractive yields [15]

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]

Exhibit 99.2 Financial Supplement Fourth Quarter 2024 the same or better terms in the event of nonrenewal or in the event we replace an existing tenant, as well as any obligations, including indemnification obligations, we may incur in connection with the replacement of an existing tenant; (vi) the availability of and the ability to identify (a) tenants who meet our credit and operating standards, and (b) suitable acquisition opportunities, and the ability to acquire and lease the respective properties to s ...

分组1 - CareTrust REIT reported quarterly funds from operations (FFO) of $0.40 per share, matching the Zacks Consensus Estimate and showing an increase from $0.36 per share a year ago [1] - The company posted revenues of $86.94 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 3.42% and up from $59.73 million year-over-year [2] - CareTrust REIT has consistently topped consensus revenue estimates over the last four quarters [2] 分组2 - The stock has underperformed, losing about 4.8% since the beginning of the year, while the S&P 500 gained 3.2% [3] - The future performance of CareTrust REIT's stock will depend on management's commentary during the earnings call and the outlook for FFO [3][4] - The current consensus FFO estimate for the upcoming quarter is $0.43 on revenues of $95.9 million, and for the current fiscal year, it is $1.77 on revenues of $365.34 million [7] 分组3 - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is in the bottom 33% of over 250 Zacks industries, which may impact stock performance [8] - The estimate revisions trend for CareTrust REIT is currently favorable, resulting in a Zacks Rank 2 (Buy), suggesting expected outperformance in the near future [6]