newsfilter
← Latest News
Business Wire·

CareTrust REIT Receives Investment Grade Rating Upgrade from Moody's

  • Moody's upgraded CareTrust REIT's issuer rating & senior unsecured notes to an investment grade Baa3.
  • The outlook shifted from positive to stable following the upgrade.
  • CareTrust deployed over $4 billion of capital since the start of 2024 across skilled nursing, seniors housing, & UK care home opportunities.
  • CFO Derek Bunker stated the upgrade improves the cost of capital & broadens access to high-grade debt markets.
  • The company recently announced $628 million in investments across US skilled nursing & UK care homes at an 8.8% blended stabilized yield.
  • Year-to-date total investments reached $990 million with a $450 million pipeline of actionable deals under letter of intent.
  • CareTrust is a self-administered REIT owning, acquiring, developing, & leasing healthcare properties in the US & UK.