Fri, Aug 2, 10:11 AM (227 days ago)
CareTrust REIT, Inc.'s Q2 2024 financial report shows a significant increase in total assets to $2.7 billion, driven by real estate investments and other related investments. Rental income rose by 16% year-over-year to $108.9 million, while interest and other income surged by 179% to $23.1 million. However, impairment charges on real estate investments increased by 22%, totaling $28.5 million, reflecting challenges in asset sales. Net income attributable to CareTrust REIT was $39.5 million, up from $18.7 million in the same period last year. The company issued 23.7 million shares, raising $579.8 million in new equity. Cash flow from operations improved to $101.8 million, up from $67 million in the prior year. Future uncertainties include macroeconomic conditions, regulatory changes, and operational challenges faced by tenants. The company's liquidity is supported by a strong cash position and available credit facilities.