As the public health emergency expires today – along with crucial waivers for skilled nursing providers – CareTrust REIT (Nasdaq: CTRE) says some of its tenants could potentially be impacted while others see it as a nonevent. CareTrust CEO David Sedgwick said his team continues to watch Medicaid rebasing closely as the PHE era 6.25% […]
Trillium Healthcare
Medicaid rebasing efforts are driving dealmaking activity for the skilled nursing sector at the moment, as enhanced federal funding dries up and operators scramble to account for rising costs of care and a floundering workforce. That’s according to executives with CareTrust REIT (NYSE: CTRE). James Callister, chief investment officer , said during the company’s latest […]
CareTrust REIT (Nasdaq: CTRE) discussed efforts to de-risk its portfolio, detailing plans to repurpose 32 of its assets while still remaining active in the market, during a fourth financial quarter earnings call on Thursday. The 32 assets – a mix of skilled nursing and seniors housing – represent approximately 10% of the real estate investment […]
CareTrust REIT (Nasdaq: CTRE) expects its skilled nursing assets to return to pre-pandemic occupancy by next summer, with continued recovery from the second to third financial quarter ending Sept. 30. About 60% of the real estate investment trust’s (REIT) skilled nursing operators are “within 90% of their pre-pandemic census or better,” David Sedgwick, president and […]
CareTrust REIT (Nasdaq: CTRE) on Tuesday announced plans to terminate its existing master lease with skilled nursing operator Trillium Healthcare Group in a move that will see the real estate investment trust (REIT) reduce its exposure to the provider from 18 to 11 properties. The Bradenton, Fla.-based Trillium currently operates 10 CareTrust-owned buildings in Iowa, […]
CareTrust REIT (Nasdaq: CTRE) had a relatively light second quarter for transactions, but the San Clemente, Calif.-based real estate investment trust (REIT) expects to be off the sidelines soon, according to executives on its quarterly earnings call. “Although it was an uncharacteristically quiet quarter for us on the acquisition front, Q2 was one of our […]
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