NYSE$CTRE
CareTrust REIT Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
CareTrust REIT reported solid Q4 2023 results, driven by strong rental income and strategic investments.
CareTrust REIT reported net income of $26.3 million, or $0.22 per diluted share, and normalized FFO of $43.4 million, or $0.36 per diluted share, for the fourth quarter of 2023. The company collected 100% of contractual rents and invested $43.2 million during the quarter. They ended the year with approximately $294 million in cash.
- Collected 100% of contractual rents for the quarter.
- Reported net income of $26.3 million, or $0.22 per share.
- Achieved normalized FFO of $43.4 million, or $0.36 per share.
- Invested $43.2 million during the quarter at an estimated stabilized yield of 11.4%.
Headline financials
Revenue & EPS history
CareTrust REIT · Revenue · Quarterly
$59.7M
Forward guidance
The Company issued guidance for 2024, with Mr. Wagner projecting on a per-diluted weighted-average common share basis net income of approximately $1.02 to $1.04, normalized FFO of approximately $1.43 to $1.45, and normalized FAD of approximately $1.47 to $1.49.
Tailwinds
- All investments year-to-date
- No new acquisitions
- Dispositions and loan repayments made to date
- No new dispositions, new loans or loan repayments beyond those completed or announced to date
- Estimated 2.5% CPI-based rent escalators under CareTrust's long-term net leases.
Headwinds
- All investments year-to-date
- No new acquisitions
- Dispositions and loan repayments made to date
- No new dispositions, new loans or loan repayments beyond those completed or announced to date
- Assumes 2% - 3% uncollected rents
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.5%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+3.1%
Avg return
30 days after
58%
30 / 52 earnings
Positive
+11.7%
Q1 2020
Best reaction
-9.4%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | +7.5% | -3.9% | |
| Q4 2025 | -0.3% | +0.0% | -0.3% | |
| Q3 2025 | -1.2% | +1.4% | +4.7% | |
| Q1 2025 | +0.8% | +1.4% | +1.5% | |
| Q4 2024 | +3.7% | +1.5% | +11.1% | |
| Q3 2024 | +4.8% | +3.4% | -4.5% | |
| Q2 2024 | +1.6% | +1.6% | +10.8% | |
| Q1 2024 | +0.2% | -0.2% | +2.6% | |
| Q4 2023 | +9.0% | +9.3% | +12.7% | |
| Q3 2023 | +3.5% | +7.0% | +5.2% | |
| Q2 2023 | +0.3% | +0.8% | +0.3% | |
| Q1 2023 | +1.7% | +1.5% | +0.6% | |
| Q4 2022 | -0.6% | +0.3% | -6.6% | |
| Q3 2022 | -1.9% | +3.4% | +5.2% | |
| Q2 2022 | -1.2% | +2.3% | -0.6% | |
| Q1 2022 | -0.5% | -4.8% | +5.6% | |
| Q4 2021 | -6.3% | -6.9% | -3.7% | |
| Q3 2021 | +0.1% | -1.6% | +7.3% | |
| Q2 2021 | +2.7% | -1.1% | -2.0% | |
| Q1 2021 | +2.9% | +1.6% | +3.4% | |
| Q4 2020 | +0.1% | -0.7% | +3.0% | |
| Q3 2020 | +0.9% | +9.1% | +16.3% | |
| Q2 2020 | +4.0% | +5.1% | +7.7% | |
| Q1 2020 | +11.7% | +8.5% | +27.5% | |
| Q4 2019 | +2.2% | +0.7% | -44.8% | |
| Q3 2019 | -8.6% | -12.2% | -4.7% | |
| Q2 2019 | -0.7% | -0.5% | +6.4% | |
| Q1 2019 | -1.5% | +0.6% | -1.9% | |
| Q4 2018 | +1.4% | +2.6% | +9.2% | |
| Q3 2018 | +8.1% | +10.5% | +12.9% | |
| Q2 2018 | +0.7% | +5.6% | +9.1% | |
| Q1 2018 | +7.6% | +7.0% | +18.1% | |
| Q4 2017 | -9.4% | -9.6% | -8.3% | |
| Q3 2017 | -4.4% | -4.7% | -9.8% | |
| Q2 2017 | +0.5% | -0.7% | +6.3% | |
| Q1 2017 | -3.0% | -0.8% | +8.0% | |
| Q4 2016 | +2.3% | +2.0% | -1.5% | |
| Q3 2016 | -3.6% | +0.6% | +6.7% | |
| Q2 2016 | +4.4% | +5.9% | +11.2% | |
| Q1 2016 | -0.7% | — | — | |
| Q4 2015 | +2.4% | — | — | |
| Q3 2015 | -5.4% | — | — | |
| Q2 2015 | -8.4% | — | — | |
| Q1 2014 | +7.6% | — | — | |
| Q1 2015 | +7.6% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q3 2014 | +7.5% | — | — | |
| Q3 2013 | +7.5% | — | — | |
| Q2 2014 | -6.8% | — | — | |
| Q4 2013 | -6.8% | — | — | |
| Q2 2013 | -6.8% | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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