DANA POINT, Calif. - CareTrust REIT, Inc. (NYSE:CTRE) announced the pricing of an underwritten public offering of 12,500,000 shares of its common stock, with gross proceeds of approximately $509.4 million.
The stock trades at $41.52, near its 52-week high of $43.08, following a 47% return over the past year. The company has a market capitalization of $9.81 billion.
The offering is being sold on a forward basis through forward sale agreements. Wells Fargo Securities and J.P. Morgan Securities are acting as book-running managers.
CareTrust intends to use the proceeds for general corporate purposes, including future acquisitions or investments.
