Core Viewpoint - CareTrust REIT is a triple net lease healthcare REIT focused on Skilled Nursing facilities, with a conservative capital structure and flat year-over-year financial performance in Q1 2024, leading to a neutral outlook on shares [2][22]. Company Overview - CareTrust REIT primarily invests in Skilled Nursing facilities (70% of the portfolio), Multi-Service Campus (22%), and Seniors Housing (8%) [2]. - The company has significant geographic exposure to the Sun Belt region, with California (28% of revenue) and Texas (19%) being the largest contributors [2]. Financial Performance - CareTrust reported a normalized FFO of $0.35/share, flat year-over-year, and a normalized FAD of $0.37/share, also flat year-over-year [2]. - The company has slightly reduced its 2024 guidance to a normalized FFO of approximately $1.42-$1.44/share, up 1% year-over-year, and a normalized FAD of approximately $1.46-$1.48, down 1% year-over-year [7]. Investment Strategy - CareTrust has allocated approximately $386 million for acquisitions and loan/preferred equity financing in 2024, with an average stabilized yield of 10.24% [10]. - The company maintains a conservative capital structure with only $149 million in net debt at the end of Q1 2024, representing just 4% of its enterprise value [8]. Market Position - CareTrust REIT has outperformed the Vanguard Real Estate Index Fund ETF (VNQ) in 2024, delivering a low double-digit return [4]. - The stock currently trades at a market-implied cap rate of about 6.1%, which is considered not particularly exciting given the low leverage of 9% of enterprise value [12][17]. Tenant Exposure - During Q1 2024, 98% of rent and interest was collected on time, with a projected 1.5-2% uncollected rent for the full year [19]. - The Ensign Group represents 32% of all rents, indicating significant tenant exposure [20]. Coverage Metrics - Coverage metrics such as EBITDAR and EBITDARM are well above one, showing strong rent payment coverage despite weaker performance from smaller tenants [21].

Core Insights - The market is anticipating significant movement in CareTrust REIT shares, indicated by high implied volatility in options trading [2][5] - CareTrust REIT currently holds a Zacks Rank of 5 (Strong Sell), placing it in the bottom 30% of the Zacks Industry Rank [2] - Over the past 60 days, no analysts have raised earnings estimates for CareTrust REIT, with one analyst lowering the estimate from 38 cents to 36 cents per share for the current quarter [2] Options Trading Strategy - The high implied volatility suggests a potential trading opportunity, as options traders often seek to sell premium on options with elevated implied volatility [3] - Seasoned traders typically employ strategies that capitalize on the decay of options, hoping that the underlying stock does not move as much as initially expected by expiration [3]

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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Maryland 46-3999490 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 March 31, 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) (State ...

CareTrust REIT, Inc. (CTRE) announced a 3.6% increase in its quarterly common stock cash dividend to 29 cents per share from 28 cents paid out earlier. The increased dividend will be paid out on Apr 15 to shareholders of record as of Mar 28, 2024.Based on the hiked rate, the annualized dividend comes at $1.16 per share compared with the prior rate of $1.12 per share. At this new rate, the dividend yield is 4.83%, based on the company’s share price of $23.97 on Mar 18, 2024.The latest hike reflects CTRE’s ab ...

SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) announced today that its Board of Directors has increased its quarterly common stock cash dividend from $0.28 to $0.29 per common share. The current dividend will be payable to common stockholders of record as of the close of business on March 28, 2024 and management affirmed that the company plans to pay the dividend on or about April 15, 2024. Dave Sedgwick, CareTrust’s Chief Executive Officer, commented that “We continue our balan ...

In an effort to expand its portfolio, CareTrust REIT, Inc. (CTRE) recently acquired two skilled nursing facilities in Houston, Texas, and one nursing facility in Columbia, MO. The company shelled out $55.6 million, inclusive of transaction costs, for this portfolio acquisition, and the transaction was funded with cash on hand.Reflecting positive sentiments, shares of CTRE gained marginally during Wednesday’s regular trading session, though the gains were partially eroded on Thursday due to broader market co ...

SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) announced today the acquisition of three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs. The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust’s existing master lease with affiliates of PACS Group, Inc., who has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston, Texas and one is locate ...

CareTrust REIT, Inc. (NYSE:CTRE) Q4 2023 Earnings Conference Call February 9, 2024 1:00 PM ET Company Participants Lauren Beale - Senior Vice President, Controller Dave Sedgwick - President & Chief Executive Officer James Callister - Chief Investment Officer Bill Wagner - Chief Financial Officer Conference Call Participants Connor Siversky - Wells Fargo Jonathan Hughes - Raymond James Austin Wurschmidt - KeyBanc Capital Markets Juan Sanabria - BMO Capital Markets Michael Carroll - RBC Capital Markets Alec F ...