CareTrust REIT(US:CTRE)2021-05-07 19:13Company Overview - CareTrust REIT has expanded its real estate portfolio to 223 net-leased healthcare properties across 28 states, consisting of 23,345 operating beds/units as of May 6, 2021[13] - As of March 31, 2021, the company's market capitalization was $2,252 million and enterprise value was $2,892 million with 967 million outstanding shares[15] Portfolio Composition - As of March 31, 2021, Skilled Nursing facilities comprised 678% of the total investment at $1,308842 thousand and generated 699% of the total rent at $129,044 thousand[21] - Multi-Service Campuses accounted for 195% of the total investment at $375,432 thousand and 166% of the total rent at $30,552 thousand[21] - Seniors Housing represented 127% of the total investment at $245,395 thousand and 135% of the total rent at $24,937 thousand[21] Tenant Diversification - The top 5 tenants accounted for 587% of the total investment at $1,135,202 thousand and 624% of the total rent at $115,231 thousand as of March 31, 2021[25] - The Ensign Group represented 258% of the total investment at $498,702 thousand and 310% of the total rent at $57,195 thousand[25] - The top 10 tenants accounted for 765% of the total investment at $1,477,454 thousand and 808% of the total rent at $149,039 thousand[25] Geographic Diversification - As of March 31, 2021, California represented 243% of the total investment at $469,659 thousand and 254% of the total rent at $46,834 thousand[30] - Texas accounted for 188% of the total investment at $363,317 thousand and 197% of the total rent at $36,443 thousand[30] Financial Performance - For the three months ended March 31, 2021, rental income was $45,246 thousand compared to $42,464 thousand for the same period in 2020[35] - Net income for the three months ended March 31, 2021, was $20,486 thousand compared to $19,325 thousand for the same period in 2020[35]