CareTrust REIT, Inc. · NYSE:CTRE
CareTrust REIT — Q4 2016 Earnings Presentation
23 slides from CareTrust REIT's earnings presentation, Feb 7, 2017
Slide 1: CareTrust REIT Fourth Quarter 2016 Financial Supplement
CARETRUST REIT, INC. FOURTH QUARTER 2016 FINANCIAL SUPPLEMENT INVESTING IN THE FUTURE OF HEALTHCARE Bridgeport Health & Rehab (Bridgeport, TX) Bridgeport Health & Rehab - Lobby (Bridgeport, TX) Broadmoor Medical Lodge - Lobby (Rockwall, TX) The Pines of Burton (Burton, MI) Broadmoor Medical Lodge (R
Slide 2: Disclaimers
INVESTING IN THE FUTURE OF HEALTHCARE 2 Disclaimers This supplement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding ou
Slide 3: Company Profile and Table of Contents
INVESTING IN THE FUTURE OF HEALTHCARE Company Profile Table of Contents CareTrust REIT is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. CareTrust REIT generates revenues primar
Slide 4: CareTrust at a Glance
INVESTING IN THE FUTURE OF HEALTHCARE At a Glance 16 Operators 14,919 Operating Beds/Units 20 States 151 Properties $1,045M Investments Notes: Amounts are as of December 31, 2016 and exclude our three operated seniors housing properties and our three preferred equity investments. Credit Ratings S&P
Slide 5: Investments
INVESTING IN THE FUTURE OF HEALTHCARE Investments Notes: [1] Initial Investment for pre-spin properties represents Ensign's gross book value. Initial Investment for post-spin properties represents CareTrust REIT’s purchase price and transaction costs. [2] Initial Operating Beds/Units as of the acqui
Slide 6: Portfolio Performance
Portfolio Performance INVESTING IN THE FUTURE OF HEALTHCARE (dollars in thousands) Notes: [1] Investment for pre-spin properties represents Ensign's gross book value. Investment for post-spin properties represents CareTrust REIT’s cumulative capital investment. Capital investment includes purchase p
Slide 7: Tenant Summary
INVESTING IN THE FUTURE OF HEALTHCARE 7 Tenant Summary The Ensign Group (NASDAQ: ENSG) is a publicly-traded, nationwide operator of 211 skilled nursing and assisted living facilities, 93 of which are owned by CareTrust REIT. In addition to being a blue-chip operator, Ensign also operates 19 hospice
Slide 8: Rent Diversification by Tenant
Rent Diversification by Tenant INVESTING IN THE FUTURE OF HEALTHCARE Notes: Underwriting DARMx and DARx apply for Tenants with less than 12 months operational data Notes: [1] Investment for pre-spin properties represents Ensign's gross book value. Investment for post-spin properties represents CareT
Slide 9: Geographic Diversification
Geographic Diversification 1 ALF 7 SNFs 1 ALF 2 ALFs 1 ALFs 9 SNFs 1 Campus 3 ALFs 24 SNFs 2 Campuses 12 SNFs 4 Campuses 2 ALFs 1 SNF 2 ALFs 7 SNFs 1 Campus 3 ALFs 16 SNFs 3 Campuses 2 ALFs 4 SNFs 3 ALFs 1 SNF 13 SNFs 2 Campuses 3 ALFs 6 SNFs 1 Campus 1 ALF 1 ALF 3 SNFs 2 Campuses 1 ALF INVESTING IN
Slide 10: Rent Diversification by State
Rent Diversification by State INVESTING IN THE FUTURE OF HEALTHCARE Notes: [1] Investment for pre-spin properties represents Ensign's gross book value. For post-spin properties, Investment represents CareTrust REIT’s cumulative capital investment. Capital investment includes purchase price, transact
Slide 11: Lease Maturities
Lease Maturities INVESTING IN THE FUTURE OF HEALTHCARE Lease Maturity Year % of Rent Notes: [1] Lease Maturity Year represents the scheduled expiration year of the primary term of the lease and does not include tenant extension options, if any. [2] Investment for pre-spin properties represents Ensig
Slide 12: Financial Overview
Financial Overview Applewood of Brookfield Assisted Living (Brookfield, WI)
Slide 13: Consolidated Income Statements
Consolidated Income Statements (amounts in thousands, except per share data) INVESTING IN THE FUTURE OF HEALTHCARE
Slide 14: Reconciliation of EBITDA, FFO and FAD
Reconciliation of EBITDA, FFO and FAD INVESTING IN THE FUTURE OF HEALTHCARE (amounts in thousands, except per share data) [1] For the periods presented, the diluted weighted average shares have been calculated using the treasury stock method. See “Glossary” for additional information.
Slide 15: Consolidated Balance Sheets
Consolidated Balance Sheets (dollars in thousands) INVESTING IN THE FUTURE OF HEALTHCARE
Slide 16: Key Debt Metrics
INVESTING IN THE FUTURE OF HEALTHCARE Key Debt Metrics Debt to EBITDA[1] Debt to Enterprise Value[2] [1] Debt to EBITDA compares total debt as of the last day of the quarter to the annualized EBITDA for the quarter. [2] Debt to Enterprise Value compares total debt as of the last day of the quarter t
Slide 17: Debt Summary
Debt Summary INVESTING IN THE FUTURE OF HEALTHCARE (dollars in thousands) Notes: [1] Funds can be borrowed at applicable LIBOR plus 1.95% to 2.60% or at the Base Rate (as defined) plus 0.95% to 1.6%. [2] Funds can be borrowed at applicable LIBOR plus 1.75% to 2.40% or the Base Rate (as defined) plus
Slide 18: 2017 Guidance
2017 Guidance INVESTING IN THE FUTURE OF HEALTHCARE (shares in thousands) See “Glossary” for additional information.
Slide 19: Equity Capital Transactions
INVESTING IN THE FUTURE OF HEALTHCARE 19 Equity Capital Transactions Follow-On Equity Offering Activity At-the-Market Offering Activity Notes: [1] Represents average follow-on equity offerings per-share price. 2015 Q1 Q2 Q3 Q4 Total Number of Shares (000s) 16,330 - 9,775 - 6,325 16,100 Public Offeri
Slide 20: Other Financial Highlights
Normalized FFO per Share Other Financial Highlights Dividend History Normalized FFO Payout Ratio[1] 20 Notes: [1] Normalized FFO Payout Ratio represents dividends paid divided by Normalized FFO, in each case for the applicable quarter. See “Glossary” for additional information. INVESTING IN THE FUTU
Slide 21: Glossary
Glossary INVESTING IN THE FUTURE OF HEALTHCARE Assisted Living Facilities (“ALFs”) Licensed healthcare facilities that provide personal care services, support and housing for those who need help with daily living activities, such as bathing, eating and dressing, yet require limited medical care. The
Slide 22: Glossary (continued)
INVESTING IN THE FUTURE OF HEALTHCARE Independent Living Facilities (“ILFs”) Also known as retirement communities or senior apartments, ILFs are not healthcare facilities. ILFs typically consist of entirely self-contained apartments, complete with their own kitchens, baths and individual living spac
Slide 23: CareTrust REIT, Inc. contact details
CareTrust REIT, Inc. 905 Calle Amanecer, Suite 300 San Clemente, CA 92673 NASDAQ: CTRE www.caretrustreit.com INVESTING IN THE FUTURE OF HEALTHCARE Copper Ridge Health Care (West Jordan, UT)