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CareTrust REIT: Q4 Earnings Snapshot
By AP News - Feb 12, 2025, 05:02 PM ET
Last Updated - Feb 12, 2025, 05:02 PM EST
SAN CLEMENTE, Calif. (AP) — SAN CLEMENTE, Calif. (AP) — CareTrust REIT Inc. (CTRE) on Wednesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The real estate investment trust, based in San Clemente, California, said it had funds from operations of $72.9 million, or 40 cents per share, in the period.
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The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 40 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $52.1 million, or 29 cents per share.
The health care real estate investment trust, based in San Clemente, California, posted revenue of $86.9 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $84.1 million.
For the year, the company reported funds from operations of $232.9 million. Revenue was reported as $296.3 million.
CareTrust REIT expects full-year funds from operations in the range of $1.68 to $1.72 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTRE at https://www.zacks.com/ap/CTRE
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