Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
SAN CLEMENTE, Calif. - CareTrust REIT, Inc. (NYSE:CTRE), a healthcare REIT with a market capitalization of $6.6 billion and impressive gross profit margins of 95%, announced Tuesday it has priced its upsized public offering of 20 million shares of common stock at $32.00 per share, with closing expected on Wednesday.
The healthcare-focused real estate investment trust, which maintains a healthy current ratio of 3.0 and has earned an "GREAT" financial health score from InvestingPro, has granted underwriters a 30-day option to purchase up to an additional 3 million shares. The company plans to contribute the net proceeds to its operating partnership, CTR Partnership, L.P., which will use the funds to finance new investments and repay outstanding borrowings on its revolving credit facility.
J.P. Morgan, BofA Securities and RBC Capital Markets are serving as joint lead book-running managers for the offering. BMO Capital Markets, KeyBanc Capital Markets, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers, while Huntington Capital Markets, M&T Securities and Raymond James are co-managers.
The offering is being made under a previously filed shelf registration statement that became automatically effective upon filing with the Securities and Exchange Commission. A preliminary prospectus supplement was filed with the SEC on August 12, and a final prospectus supplement will follow.
CareTrust REIT owns and leases skilled nursing, seniors housing and other healthcare-related properties across the United States and United Kingdom. The company has demonstrated strong performance with revenue growth of 51% over the last twelve months and has raised its dividend for nine consecutive years, making it an notable player in the healthcare REIT sector.
This information is based on a press release statement from the company.
In other recent news, CareTrust REIT reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.35, slightly above the forecast of $0.34, representing a 2.94% positive surprise. Revenues reached $112.47 million, significantly exceeding the anticipated $80.39 million, reflecting a 39.91% surprise. Additionally, CareTrust REIT announced a public offering of 15.5 million shares of common stock, with underwriters granted a 30-day option to purchase up to an additional 2.325 million shares at the public offering price. These developments indicate active financial and strategic maneuvers by the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.