CareTrust REIT reports Q4 EPS 18c, consensus 18c
Reports Q4 revenue $40.4M, consensus $40.3M. Commenting on the Company's progress in the quarter, Greg Stapley, CareTrust's Chairman and Chief Executive Officer, said, "After a slow start to 2018, we were pleased to finish the year with several solid acquisitions and our most robust pipeline in a long time." He reported that, in the quarter and since, the Company acquired $100.3 million in new assets, added another impressive new operator to its expanding tenant pool and match-funded its recent and anticipated near-term growth in part with $97.9 million in gross proceeds from its at-the-market equity program. He noted that the Company's disciplined approach to growth had positioned the Company well to execute on its opportunistic growth model going into 2019. "With leverage at an all-time low and the equity markets as accommodative as we've seen them, we have lots of runway to intelligently manage our growth and our balance sheet through 2019, and beyond," he said. "However, we still have to dig carefully through the opportunities to find reasonably-priced assets and, above all, the right operators to shepherd them, and we remain firmly committed to that discipline," he concluded.