Q3 2025 CareTrust REIT Inc Earnings Call Transcript
Key Points
- CareTrust REIT Inc (CTRE) reported a third-quarter normalized FFO per share of $0.45, representing an 18% growth over the prior year quarter.
- The company closed on $495 million of new investments in the third quarter, bringing the year-to-date total to over $1.6 billion, surpassing last year's record.
- CareTrust REIT Inc (CTRE) has expanded its growth engines by adding UK care homes and is preparing to close its first shop deal, diversifying its portfolio.
- The company maintains a strong balance sheet with no near-term debt maturities until 2028 and has great liquidity, including a $1.2 billion revolver.
- CareTrust REIT Inc (CTRE) has invested in data science to enhance decision-making and productivity across the organization.
- The company faces risks and uncertainties that could cause actual results to differ from expectations, as noted in their forward-looking statements.
- There is a timing gap between funding and closing deals, which has created a short-term headwind.
- The UK care home portfolio has seen a slight decline in coverage levels since May, although this is not seen as a major concern.
- CareTrust REIT Inc (CTRE) anticipates higher G&A expenses as it builds out its seniors housing operating portfolio.
- The company is still in the early stages of its shop strategy, which may require further investments and adjustments.
Ladies and gentlemen, thank you for joining us and welcome to the Care Trust Reads 3rd quarter 2025 operating results webcast and conference call. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please raise your hand. If you have dialed in to today's call, please press 9 to raise your hand and 6 to unmute when your name is called. I will now hand the conference over to Lauren Beale, Care Trust's Chief Accounting Officer. Lauren, please.
Go ahead.
Thank you and welcome to Care Trust Reef's 3rd quarter 2025 earnings call. We will make forward-looking statements today based on management's current expectations, including statements regarding future financial performance, dividends, acquisitions, investments, financing plans, business strategies, and growth prospects. These forward-looking statements are subject to risks and uncertainties that could cause the actual results to materially differ from our
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