CareTrust REIT slips after increased $640 mln share sale

CareTrust REIT

13/08/2025 12:41

** Shares of CareTrust REIT CTRE.N down 1.7% at $32.42 before the bell after overnight follow-on priced

    ** Skilled nursing, senior housing operator late Tues announced 20 mln shares at $32 for $640 mln gross raise

    ** Offering size boosted from 15.5 mln shares, and priced at 3% discount to stock's last close

** Co plans to use net offering proceeds to fund new investments, repay borrowings on its revolver

** JP Morgan, BofA and RBC are joint lead bookrunners

** San Clemente, California-based CTRE has 200.3 mln shares outstanding for ~$6.6 bln market cap

** Through Tues, shares up 22% YTD. Stock hit intraday record high of $33.52 last Thurs

    ** All 7 analysts covering CTRE are bullish and median PT is $33, per LSEG data

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

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