BUZZ-CareTrust REIT dips on launching stock offering

Wells Fargo & Company
Jpmorgan Chase
CareTrust REIT, Inc.

Wells Fargo & Company

WFC

0.00

Jpmorgan Chase

JPM

0.00

CareTrust REIT, Inc.

CTRE

0.00

** Shares of CareTrust REIT CTRE.N down 1.3% in extended trading to $41 after stock offering news

** Skilled nursing, senior housing operator commences 10 mln share offering as part of forward sale

** Co expects to enter into forward sale agreements with bookrunners Wells Fargo and JP Morgan

** Upon settlement of agreements within about one year, it plans to use net proceeds for general corp purposes, including potential future acquisitions or investments, or debt repayment

** Dana Point, California-based CTRE has ~236.24 mln shares outstanding prior to the offering

** Stock finished up 0.9% at $41.52 on Mon, up 15% YTD

** 11 of 12 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $43.50, per LSEG data


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