CareTrust REIT reports Q1 normalized FFO 35c, consensus 37c

CareTrust’s President and Chief Executive Officer, Dave Sedgwick, commented on the Company’s 2024 first quarter results. “We started this year with approximately $300 million of cash on the balance sheet because we saw the potential for significant growth through new investments. We are off to a great start with approximately $205 million of new acquisition and financing deals completed already. Because the pipeline continues to replenish itself, we continue to position the balance sheet to capitalize on the consistent, steady flow of attractive investment opportunities and sourced, “off-market” acquisitions in front of us.” Mr. Sedgwick added, “The replenished investment pipeline sits today at roughly $260 million, not including larger portfolio deals under review.”