CareTrust REIT ( (CTRE) ) has released its Q1 earnings. Here is a breakdown of the information CareTrust REIT presented to its investors.
CareTrust REIT, Inc. is a publicly-traded real estate investment trust specializing in the ownership, acquisition, development, and leasing of healthcare-related properties, with a focus on skilled nursing and seniors housing facilities.
In its first quarter of 2025, CareTrust REIT reported strong financial results and strategic developments, including a planned acquisition of Care REIT plc and significant investments aimed at enhancing its portfolio. The company also increased its quarterly dividend, reflecting confidence in its financial health and future prospects.
Key financial highlights for the quarter include a net income of $65.8 million, normalized funds from operations (FFO) of $77.8 million, and normalized funds available for distribution (FAD) of $80.8 million. The company maintained a low net debt to annualized normalized run rate EBITDA ratio of 0.5x. Additionally, CareTrust REIT secured shareholder approval for its acquisition of Care REIT plc, valued at approximately $856 million, which is expected to bolster its portfolio diversification and growth potential.
Looking ahead, CareTrust REIT’s management expressed optimism about the company’s growth trajectory, citing a robust investment pipeline and plans to upsize its credit facility. The company has increased its financial guidance for 2025, projecting continued growth in net income, FFO, and FAD per share, driven by strategic acquisitions and operational efficiencies.
Overall, CareTrust REIT is poised for continued expansion and value creation for its shareholders, leveraging its strategic acquisitions and strong financial position to capitalize on growth opportunities in the healthcare real estate sector.