Gregory Stapley headshot
CareTrust CEO Gregory K. Stapley

San Clemente, CA-based CareTrust REIT is reportedly exploring strategic options including a possible sale, according to Bloomberg. Citing unnamed sources familiar with the situation, the outlet reported that the real estate investment trust is working with an adviser to assess interest from possible buyers.

CareTrust REIT CEO Greg Stapley said in the company’s earnings call last month that gradual recovery was evident and he was “very pleased” with third quarter results. At that time, CareTrust reported normalized funds from operations of $36.7 million, which was a 13% increase over the prior year, and normalized funds from operations per share of 38 cents. The REIT reported normalized available funds for distribution of $39 million, a 15.1% increase over the prior year, and normalized funds available for distribution per share of 40 cents

“The shortage of qualified workers and the sharp rise in labor costs is a growing challenge, especially as patient and resident census rises,” Stapley said on the call. 

CareTrust REIT stock rose 6.3% Monday after the Bloomberg report was published.

CareTrust did not respond to requests for comment ahead of the publication deadline.