CareTrust REIT Announces First Quarter 2019 Operating Results
www.bloomberg.com/press-releases/...er-2019-operating-results
For the quarter, CareTrust REIT reported:
* Net income of $16.1 million, a quarter-over-quarter increase of 10%, and
net income per diluted weighted-average common share of $0.18;
* Normalized FFO of $27.9 million, a quarter-over-quarter increase of 16%,
and normalized FFO per diluted weighted-average common share of $0.32;
* Normalized FAD of $29.0 million, a quarter-over-quarter increase of 16%,
and normalized FAD per diluted weighted-average common share of $0.33;
* A net debt-to-normalized EBITDA ratio of 3.3x, and a net
debt-to-enterprise value of 18%, each as of quarter-end.
CareTrust REIT Credit Ratings Upgraded by Moody’s Investors Service
www.bloomberg.com/press-releases/...moody-s-investors-service
On April 29, 2019, Moody’s announced that it upgraded the corporate family
credit rating of CareTrust REIT, Inc. to Ba2 from Ba3, with a stable outlook.
Moody’s also raised its senior unsecured rating on CareTrust’s operating
partnership, which is the issuer of CareTrust’s $300 million 5.25% senior
unsecured notes, to Ba2 with a stable outlook.
CareTrust REIT Adds Skilled Nursing Facility and Welcomes New Operating Partner in Texas
www.bloomberg.com/press-releases/...perating-partner-in-texas
The total initial investment for Lakewest was approximately $10.0 million,
inclusive of transaction costs. Initial annual cash rent will be approximately
$900,000. The Next Gen master lease carries an initial term of fifteen years,
with two five-year renewal options and CPI-based rent escalators. The property
is subject to a long-term ground lease in favor of the Dallas Housing
Authority. The acquisition was funded using cash on hand.