John Kalichewski's questions to CareTrust REIT Inc (CTRE) leadership • Q3 2024
Question
John Kalichewski asked about the lease coverage of the new Tennessee portfolio, the Linx Healthcare relationship, and the competitive landscape for skilled nursing facility acquisitions.
Answer
Chief Investment Officer James Callister stated that the Tennessee portfolio's coverage is just under 1.0x on a trailing basis but is projected to stabilize around 1.5x. He noted that the Linx relationship is performing well. Regarding competition, Callister described the current M&A environment as 'incredibly competitive' with significant private capital, suggesting that the re-entry of other buyers would not dramatically alter the landscape.