CareTrust REIT ( (CTRE) ) has shared an announcement.
CareTrust REIT reported a robust financial performance for Q3 2024, showcasing substantial investments and strategic acquisitions that highlight their growth trajectory. The company achieved a net income of $33.4 million, with investments amounting to $440.8 million at a 9.1% yield. It also announced plans to invest around $1.4 billion by year-end, supported by a strong cash position of $234 million and no outstanding borrowings on its $600 million credit line. With a significant market cap growth of 123% year-over-year, CareTrust REIT continues to expand its portfolio with exciting opportunities, including new acquisitions in the Northeast and Tennessee.
For detailed information about CTRE stock, go to TipRanks’ Stock Analysis page.
