CareTrust REIT (CTRE) Tops Q1 EPS by 4c

CareTrust REIT (NASDAQ: CTRE) reported Q1 FAD of $0.27, which may not compare to the analyst estimate of $0.23. Revenue for the quarter came in at $16.96 million versus the consensus estimate of $16.05 million.

Greg Stapley, CareTrust's Chairman and Chief Executive Officer said, "Q1 was a modest quarter in terms of closings, but we have been busy vetting and putting several potential acquisitions under contract to lay the groundwork for a great year."

2015 Guidance

CareTrust updated its previously-released guidance for 2015, projecting revenues of approximately $63.9 million exclusive of tenant reimbursements, approximately $24.0 million in interest expense, and $6.2 to $6.9 million in general and administrative expense. The Company also projected 2015 normalized FFO, normalized FAD and net income of $0.98 to $1.00, $1.08 to $1.10, and $0.28 to $0.30 per diluted common share, respectively. This guidance assumes diluted weighted average common shares outstanding of approximately 31.6 million and no additional acquisitions or dispositions, and reflects the effects of non-cash incentive compensation only to the extent issued to date.

Mr. Wagner noted that the Company plans to continue updating guidance quarterly, primarily to account for completed acquisitions and financings from quarter to quarter.

For earnings history and earnings-related data on CareTrust REIT (CTRE) click here.

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