Skilled Nursing News August 2, 2024
CareTrust REIT (NYSE: CTRE) has been busy with its investment pipeline this week, announcing $378 million in new investments after June 30, and on top of $268 million in investments during the second quarter.
Chief Investment Officer James Callister said competition for skilled nursing acquisitions is high as oncoming improvement and post-COVID performance has resulted in more facilities approaching or returning to stabilization.
“The investment environment for the skilled nursing pipeline continues to reload from a steady flow of interesting and external opportunities coming across the desk,” Callister said during Friday’s earnings call. The pipe consists “pretty exclusively” of skilled nursing opportunities right now, he said.
Strategic investments and relationships have positioned the REIT to capitalize on opportunities, turning crosswinds...
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