CareTrust REIT dips on launching stock offering

CareTrust REIT

18/05/2026 21:48

** Shares of CareTrust REIT CTRE.N down 1.3% in extended trading to $41 after stock offering news

** Skilled nursing, senior housing operator commences 10 mln share offering as part of forward sale

** Co expects to enter into forward sale agreements with bookrunners Wells Fargo and JP Morgan

** Upon settlement of agreements within about one year, it plans to use net proceeds for general corp purposes, including potential future acquisitions or investments, or debt repayment

** Dana Point, California-based CTRE has ~236.24 mln shares outstanding prior to the offering

** Stock finished up 0.9% at $41.52 on Mon, up 15% YTD

** 11 of 12 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $43.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))