Changing operators on a portfolio of seven assisted living communities is one of the ways that San Clemente, CA-based CareTrust REIT is working to “rinse out any real softness in the portfolio and position CareTrust for solid operating performance going into 2020 and beyond,” President and CEO Greg Stapley said Friday.
CareTrust REIT remains interested in acquiring senior living communities, despite it being a couple of years since the company made a deal that was limited to senior housing, executives said Wednesday. And The Ensign Group’s spinoff plans will provide additional opportunities, they added.
CareTrust REIT’s 2019 investment pipeline is $275 million to $300 million, but most of those potential investments are in the area of skilled nursing, executives told shareholders and analysts Thursday during a fourth-quarter and full-year 2018 earnings call.
