Caretrust Reit, Inc. · NYSE:CTRE
Caretrust Reit — Q2 2017 Earnings Presentation
24 slides from Caretrust Reit's earnings presentation, Aug 2, 2017
Slide 1: CareTrust REIT Second Quarter 2017 Financial Supplement
CARETRUST REIT, INC. SECOND QUARTER 2017 FINANCIAL SUPPLEMENT INVESTING IN THE FUTURE OF HEALTHCARE The Rio at Cabezon (Rio Rancho, NM) Exhibit 99.2
Slide 2: Disclaimers
INVESTING IN THE FUTURE OF HEALTHCARE 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 our
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 15,894 Operating Beds/Units 22 States 161 Properties $1,136.0M Investments Note: Amounts are as of June 30, 2017 and exclude our three operated seniors housing properties and our two preferred equity investments. Credit Ratings S&P Corporate Rating:
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
INVESTING IN THE FUTURE OF HEALTHCARE Portfolio Performance (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 Tenant Summary The Ensign Group (NASDAQ: ENSG) is a publicly-traded, nationwide operator of 226 skilled nursing and assisted living facilities, 92 of which are owned by CareTrust REIT. In addition to being a blue-chip operator, Ensign also operates 20 hospice ag
Slide 8: Rent Diversification by Tenant
INVESTING IN THE FUTURE OF HEALTHCARE Rent Diversification by Tenant 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
INVESTING IN THE FUTURE OF HEALTHCARE Geographic Diversification 1 ALF 7 SNFs 3 ALFs 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 4 ALFs 1 SNF 13 SNFs 2 Campuses 3 ALFs 7 SNFs 1 Campus 1 ALF 1 A
Slide 10: Rent Diversification by State
INVESTING IN THE FUTURE OF HEALTHCARE Rent Diversification by State 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
INVESTING IN THE FUTURE OF HEALTHCARE Lease Maturities 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 The Rio at Cabezon (Rio Rancho, NM)
Slide 13: Consolidated Income Statements
INVESTING IN THE FUTURE OF HEALTHCARE Consolidated Income Statements (amounts in thousands, except per share data)
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)
Slide 15: Reconciliation of EBITDA, FFO and FAD (continued)
Reconciliation of EBITDA, FFO and FAD (continued) 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.
Slide 16: Consolidated Balance Sheets
Consolidated Balance Sheets (dollars in thousands) INVESTING IN THE FUTURE OF HEALTHCARE
Slide 17: Key Debt Metrics
INVESTING IN THE FUTURE OF HEALTHCARE Key Debt Metrics [1] Debt to Normalized EBITDA compares total debt as of the last day of the quarter to the annualized Normalized EBITDA for the quarter. [2] Debt to Enterprise Value compares total debt as of the last day of the quarter to CareTrust REIT’s Enter
Slide 18: Debt Summary
INVESTING IN THE FUTURE OF HEALTHCARE Debt Summary (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 at the Base Rate (as defined) p
Slide 19: Updated 2017 Guidance
Updated 2017 Guidance INVESTING IN THE FUTURE OF HEALTHCARE (shares in thousands) See “Glossary” for additional information.
Slide 20: Equity Capital Transactions
INVESTING IN THE FUTURE OF HEALTHCARE Equity Capital Transactions Notes: [1] Represents average follow-on equity offerings per-share price. Follow-On Equity Offering Activity At-the-Market Offering Activity
Slide 21: Other Financial Highlights
Other Financial Highlights 20 Notes: [1] Normalized FFO Payout Ratio represents dividends declared divided by Normalized FFO, in each case for the applicable quarter. See “Glossary” for additional information. INVESTING IN THE FUTURE OF HEALTHCARE Dividend History Normalized FFO Payout Ratio [1] Nor
Slide 22: Glossary
INVESTING IN THE FUTURE OF HEALTHCARE 21 Glossary 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.
Slide 23: Glossary
INVESTING IN THE FUTURE OF HEALTHCARE Glossary 22 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
Slide 24: 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 Bridgeport Health & Rehab - Lobby (Bridgeport, TX)