CareTrust REIT (CTRE) Reports Q4 Revenues Slightly Above Estimates

Note: EPS may not be comparable

CareTrust REIT (NASDAQ: CTRE) reported Q4 EPS of $0.03, versus $0.18 reported last year. Revenue for the quarter came in at $36.6 million versus the consensus estimate of $36.2 million.

During the quarter, CareTrust REIT:

• Posted net income of $0.03, normalized FFO of $0.31, an increase of 11% over Q4 2016, and normalized FAD of $0.32, an increase of 10% over Q4 2016, all per diluted weighted-average common share;
• Invested approximately $153 million (inclusive of transaction costs) at a blended initial cash yield of 9%, acquiring 11 skilled nursing facilities and three assisted living and memory care facilities, and providing one mortgage financing;
• Finished the year with a debt-to-normalized EBITDA ratio of 4.6x and a debt-to-enterprise value of 31%, each as of quarter-end; and
• Met its normalized FFO guidance of $1.16 per diluted weighted-average common share for the year.

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

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