CareTrust REIT Inc.’s first quarter earnings today included increased guidance for the full year, now projecting net income of $1.49 to $1.53 per share, up from a prior forecast of $1.45 to $1.50.
The San Clemente real estate investor in healthcare facilities also reported its funds from operations (FFO), a key metric for REITs, was $107.4 million, or 48 cents per share—representing a 14% increase from the prior year.
“The first quarter was a strong start to the year and a powerful continuation of the momentum we’ve been generating in recent years,” Chief Executive Dave Sedgwick said in a statement.
Shares in CareTrust were little changed at $39.71 during after-hours trading. They had closed regular trading at $39.50 and an $8.8 billion market cap (NYSE: CTRE).
