CareTrust REIT Inc
For the period ended Sep 30, 2024. Filed Oct 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 29, 2024
CTRE$38.84-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $72,444 | $27,428 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization (including below-market ground leases) | 41,371 | 38,031 |
| Amortization of deferred financing costs | 1,843 | 1,826 |
| Loss on extinguishment of debt | 282 | — |
| Unrealized loss on other real estate related investments, net | 689 | 7,856 |
| Amortization of stock-based compensation | 4,669 | 3,379 |
| Straight-line rental income | 21 | 21 |
| Amortization of lease incentives | 9 | — |
| Amortization of below market leases | (1,959) | — |
| Noncash interest income | (4,099) | (129) |
| Loss (gain) on sale of real estate, net | 2,254 | (1,958) |
| Impairment of real estate investments | 36,872 | 31,510 |
| Change in operating assets and liabilities: | ||
| Accounts and other receivables | (518) | 11 |
| Prepaid expenses and other assets, net | (1,353) | (68) |
| Accounts payable, accrued liabilities and deferred rent liabilities | 16,518 | 4,189 |
| Net cash provided by operating activities | 169,043 | 112,096 |
| Cash flows from investing activities: | ||
| Acquisitions of real estate, net of deposits applied | (267,356) | (198,565) |
| Purchases of equipment, furniture and fixtures and improvements to real estate | (4,196) | (9,139) |
| Preferred equity investments | (52,000) | — |
| Investment in real estate related investments and other loans receivable | (504,936) | (50,693) |
| Principal payments received on real estate related investments and other loans receivable | 100 | 15,703 |
| Escrow deposits for potential acquisitions of real estate | (4,775) | (4,075) |
| Net proceeds from sales of real estate | 5,076 | 14,464 |
| Net cash used in investing activities | (828,087) | (232,305) |
| Cash flows from financing activities: | ||
| Proceeds from the issuance of common stock, net | 1,065,881 | 319,032 |
| Proceeds from the secured borrowing | 75,000 | — |
| Borrowings under unsecured revolving credit facility | — | 185,000 |
| Payments on unsecured revolving credit facility | — | (310,000) |
| Payments on senior unsecured term loan | (200,000) | — |
| Payment on secured borrowing | (75,000) | — |
| Payments on extinguishment of debt and deferred financing costs | (399) | (21) |
| Net-settle adjustment on restricted stock | (2,483) | (1,479) |
| Dividends paid on common stock | (122,444) | (83,089) |
| Contributions from noncontrolling interests | 1,204 | 1,073 |
| Distributions to noncontrolling interests | (61) | — |
| Net cash provided by financing activities | 741,698 | 110,516 |
| Net increase (decrease) in cash and cash equivalents | 82,654 | (9,693) |
| Cash and cash equivalents as of the beginning of period | 294,448 | 13,178 |
| Cash and cash equivalents as of the end of period | $377,102 | $3,485 |
| Supplemental disclosures of cash flow information: | ||
| Interest paid | $19,921 | $28,539 |
| Supplemental schedule of noncash investing and financing activities: | ||
| Increase in dividends payable | $13,190 | $4,854 |
| Right-of-use asset obtained in exchange for new operating lease obligation | $1,748 | $369 |
| Transfer of pre-acquisition costs to acquired assets | $58 | $— |
| Sale of real estate settled with note receivable | $1,000 | $2,000 |
| Liabilities assumed by buyer in connection with sale of real estate | $2,776 | $— |
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