Record Investment Activity
CareTrust REIT closed on $495 million of new investments in Q3, bringing year-to-date total investments to over $1.6 billion, surpassing last year's $1.5 billion.
Strong Financial Growth
Normalized FFO per share increased by 18% year-over-year to $0.45, with normalized FFO increasing 55.5% to $94.7 million and normalized FAD increasing 50.6% to $93.1 million.
Expansion in U.K. and SHOP Growth
The U.K. acquisition and integration of a London-based team, along with a developing pipeline in the U.K., now accounts for 1/3 of the $600 million total pipeline. The first SHOP deal is expected to close by year-end.
Strong Balance Sheet and Liquidity
CareTrust maintains a fortress balance sheet with no near-term debt maturities until 2028, low leverage with net debt-to-EBITDA at 0.43x, and full capacity on a $1.2 billion revolver.