CareTrust REIT dips on upsized $509 mln stock sale

CareTrust REIT

19/05/2026 11:27

** CareTrust REIT CTRE.N shares down 1.3% premarket to $41 after follow-on priced

** Skilled nursing, senior housing operator late Mon announced 12.5 mln shares, up from 10 mln shares, on forward basis for approx $509.4 mln gross proceeds

** Offering price equates to $40.75, which is 1.9% below stock's last close of $41.52

** CTRE entered into forward sale agreements with bookrunners Wells Fargo and JP Morgan

** It expects to settle the agreements within about one year, and to use net proceeds for general corp purposes, including potential future acquisitions or investments, or debt repayment

** Prior to offering, Dana Point, California-based CTRE had ~236.2 mln shares outstanding

** Through Mon, stock up 15% YTD

** Avg rating of 11 analysts is "buy"; median PT $43, per LSEG data

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

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