CareTrust (CTRE) Buys Three Nursing Facilities for $55.6 Million [Yahoo! Finance]
CareTrust REIT, Inc. (CTRE)
Last caretrust reit, inc. earnings: 2/20 04:34 pm
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US:NASDAQ Investor Relations:
investor.caretrustreit.com/investor-relations
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Source: Yahoo! Finance
The company shelled out $55.6 million, inclusive of transaction costs, for this portfolio acquisition, and the transaction was funded with cash on hand. Reflecting positive sentiments, shares of CTRE gained marginally during Wednesday's regular trading session, though the gains were partially eroded on Thursday due to broader market concerns. CareTrust will add the portfolio, which consists of 210 skilled nursing beds and 24 assisted living units, to its existing master lease with affiliates of PACS Group, Inc., which has been operating the facilities on behalf of a third-party landlord. As a result of this move, CareTrust's partnership with PACS is expanded with three facilities and the annual rent under the existing master lease is raised by approximately $5 million. Tenant will have the option to buy two of the facilities after the fourth anniversary of the closing. James Callister, chief investment officer of CareTrust, stated, “PACS continues to show a determined focus on
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CTRE
Earnings
- 2/8/24 - In-Line
CTRE
Sec Filings
- 3/8/24 - Form ARS
- 3/8/24 - Form DEFA14A
- 3/8/24 - Form DEF
- CTRE's page on the SEC website