CareTrust REIT ( (CTRE) ) has released its Q4 earnings. Here is a breakdown of the information CareTrust REIT presented to its investors.
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CareTrust REIT, Inc. is a real estate investment trust specializing in the ownership, acquisition, development, and leasing of healthcare-related properties, including skilled nursing and senior housing facilities across the United States. The company has reported a record-breaking year, showcasing significant growth in its investment portfolio and financial performance. Key highlights from the fourth quarter and full year 2024 include investments totaling $696.5 million, a public stock offering raising $507.8 million, and an upgraded investment grade for its unsecured notes. Additionally, CareTrust REIT collected 98.8% of its contractual rent and interest, reported a net income of $52.1 million, and maintained a strong balance sheet with no outstanding borrowings on its $1.2 billion revolving credit line. The company also projected a promising outlook for 2025, with expected increases in net income, normalized FFO, and normalized FAD per share. Looking forward, CareTrust REIT is poised to continue its growth trajectory, leveraging its robust financial position and strategic partnerships to capitalize on new investment opportunities and enhance its portfolio’s diversity and performance.
