CareTrust REIT Q2 2024 10-Q Filed
Ticker: CTRE · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 1590717
Sentiment: neutral
Topics: real-estate, REIT, financials
TL;DR
**CareTrust REIT Q2 2024 10-Q is in. Financials and operational details are out.**
AI Summary
CareTrust REIT, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures related to its real estate investments, leases, and loans are presented.
Why It Matters
This filing provides investors with an update on CareTrust REIT's financial health and strategic positioning in the real estate sector, impacting investment decisions.
Risk Assessment
Risk Level: medium — As a REIT, CareTrust is subject to real estate market fluctuations, interest rate changes, and tenant financial health, which can impact its performance.
Key Numbers
- N/A — Revenue (Specific revenue figures for the quarter are not detailed in the provided snippet.)
- N/A — Net Income (Specific net income figures for the quarter are not detailed in the provided snippet.)
- N/A — Assets (Total assets are not explicitly stated in the provided snippet.)
Key Players & Entities
- CareTrust REIT, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240802 (date) — Filing date
FAQ
What were CareTrust REIT's total revenues for the quarter ended June 30, 2024?
The provided snippet does not contain specific revenue figures for the quarter ended June 30, 2024.
What is the company's net income for the second quarter of 2024?
Specific net income details for the second quarter of 2024 are not available in the provided text.
What is the total value of CareTrust REIT's assets as of June 30, 2024?
The snippet does not list the total assets as of June 30, 2024.
What are the key terms of the leases mentioned in the filing?
The filing mentions terms like 'renewalOption', 'extension_option', and 'installment' in relation to leases, but specific details are not provided in the snippet.
Does the filing discuss any new investments or loans made by CareTrust REIT in Q2 2024?
The snippet indicates 'investment' and 'loan' as relevant terms, but does not provide details on specific transactions during Q2 2024.
Filing Stats: 4,781 words · 19 min read · ~16 pages · Grade level 14.4 · Accepted 2024-08-01 18:38:58
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share CTRE New York Stock Exchange
Filing Documents
- ctre-20240630.htm (10-Q) — 1427KB
- ctre20240630q2ex311.htm (EX-31.1) — 8KB
- ctre20240630q2ex312.htm (EX-31.2) — 8KB
- ctre20240630q2ex321.htm (EX-32.1) — 7KB
- 0001628280-24-034247.txt ( ) — 8422KB
- ctre-20240630.xsd (EX-101.SCH) — 74KB
- ctre-20240630_cal.xml (EX-101.CAL) — 64KB
- ctre-20240630_def.xml (EX-101.DEF) — 383KB
- ctre-20240630_lab.xml (EX-101.LAB) — 680KB
- ctre-20240630_pre.xml (EX-101.PRE) — 536KB
- ctre-20240630_htm.xml (XML) — 1304KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Equity 3 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 35
Controls and Procedures
Item 4. Controls and Procedures 36
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 37
Risk Factors
Item 1A. Risk Factors 37
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 38
Signatures
Signatures 39 Table of Contents
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. CARETRUST REIT, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited) June 30, 2024 December 31, 2023 Assets: Real estate investments, net $ 1,706,231 $ 1,567,119 Other real estate related investments (including accrued interest of $ 3,540 as of June 30, 2024 and $ 1,727 as of December 31, 2023) 433,532 180,368 Assets held for sale 28,753 15,011 Cash and cash equivalents 495,134 294,448 Accounts and other receivables 1,096 395 Prepaid expenses and other assets, net 30,502 23,337 Deferred financing costs, net 3,506 4,160 Total assets $ 2,698,754 $ 2,084,838 Liabilities and Equity: Senior unsecured notes payable, net $ 396,483 $ 396,039 Senior unsecured term loan, net 199,665 199,559 Secured borrowing 75,000 — Accounts payable, accrued liabilities and deferred rent liabilities 37,112 33,992 Dividends payable 44,721 36,531 Total liabilities 752,981 666,121 Commitments and contingencies (Note 12) Equity: Preferred stock, $ 0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; 500,000,000 shares authorized, 153,881,933 and 129,992,796 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 1,539 1,300 Additional paid-in capital 2,456,187 1,883,147 Cumulative distributions in excess of earnings ( 514,037 ) ( 467,628 ) Total stockholders' equity 1,943,689 1,416,819 Noncontrolling interests 2,084 1,898 Total equity 1,945,773 1,418,717 Total liabilities and equity $ 2,698,754 $ 2,084,838 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents CARETRUST REIT, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Rental income $