1315_Nareit Testimonials Sedgewick_2023-06-16_V2
06/22/2023
| by
Nareit Staff
Dave Sedgwick, president and CEO of CareTrust REIT, Inc. (NYSE: CTRE), participated in a video interview at Nareit’s REITweek: 2023 Investor Conference, held in New York June 6-8.
Sedgwick discussed CareTrust’s activity on the transaction front so far in 2023, the state of fundamentals across the industry more broadly, and CareTrust’s key priorities for the rest of this year.
During the interview, Sedgwick commented that:
- Most of what CareTrust has acquired this year has been in skilled nursing, with some assisted living, totaling about $150 million.
- “I don’t think we’ve ever been more advantaged in the market than we are today” because sellers and brokers are prioritizing companies like CareTrust that have certainty to close and no need to borrow. “We’re going to try and take advantage of this window.”
- The industry is largely in a period of recovery, with occupancy slowly recovering.
- Major goals of 2023 include finding that “next wave” of operators, as well as keeping leverage low and taking advantage of acquisition opportunities. “We’re well on our way to accomplishing them.”