1 unchanged sentence
Common Equity
−Removed: Our common stock is listed on the Nasdaq Global Select Market under the symbol “CTRE.”
+Added: Our common stock is listed on the New York Stock Exchange under the symbol “CTRE.”
At February 8, 2023, we had approximately 43 stockholders of record.
To maintain REIT status, we are required each year to distribute to stockholders at least 90% of our annual REIT taxable income after certain adjustments.
−Removed: All distributions will be made by us at the discretion of our board of directors and will depend
−Removed: on our financial position, results of operations, cash flows, capital requirements, debt covenants (which include limits on distributions by us), applicable law, and other factors as our board of directors deems relevant.
−Removed: For example, while the Notes and our Amended Credit Agreement permit us to declare and pay any dividend or make any distribution that is necessary to maintain our REIT status, those distributions are subject to certain financial tests under the indenture governing the Notes, and therefore, the amount of cash distributions we can make to our stockholders may be limited.
+Added: All distributions will be made by us at the discretion of our board of directors and will depend on our financial position, results of operations, cash flows, capital requirements, debt covenants (which include limits on distributions by us), applicable law, and other factors as our board of directors deems relevant.
+Added: For example, while the Notes and our Second Amended Credit Agreement permit us to declare and pay any dividend or make any distribution that is necessary to maintain our REIT status, those distributions are subject to certain financial tests under the indenture governing the Notes, and therefore, the amount of cash distributions we can make to our stockholders may be limited.
Distributions with respect to our common stock can be characterized for federal income tax purposes as taxable ordinary dividends, nondividend distributions or a combination thereof.
6 unchanged sentences
Distributions allocated from prior tax year (1)
+Added: (0.2650) (0.2500)
Distributions allocated to subsequent tax year (2)
8 unchanged sentences
We expect to finance any share repurchases under the Repurchase Program using available cash and may also use short-term borrowings under the Revolving Facility.
−Removed: We did not repurchase any shares of common stock under the Repurchase Program during the year ended December 31, 2021.
+Added: We did not repurchase any shares of common stock under the Repurchase Program during the years ended December 31, 2022, 2021 and 2020.
The Repurchase Program may be modified, discontinued or suspended at any time.
1 unchanged sentence
The graph below compares the cumulative total return of our common stock, the S&P 500 Index, the S&P 500 REIT Index, the RMS (MSCI U.S.
−Removed: REIT Total Return Index) and the SNL U.S.
−Removed: REIT Healthcare Index for the period from December 30, 2016 to December 31, 2021, except for the SNL U.S.
−Removed: REIT Healthcare Index, which was discontinued as of August 2021.
+Added: REIT Total Return Index) and the Russell 2000 Index (“Russell 2000”).
+Added: We plan to replace the S&P 500 Index with the Russell 2000 as we have determined that the Russell 2000 is a more comparable index for us in terms of market capitalization.
Total cumulative return is based on a $100 investment in CareTrust REIT common stock and in each of the indices at the market close on December 29, 2017 and assumes quarterly reinvestment of dividends before consideration of income taxes.
1 unchanged sentence
COMPARISON OF CUMULATIVE TOTAL RETURN
−Removed: AMONG S&P 500, S&P 500 REIT INDEX, RMS, SNL US REIT HEALTHCARE AND CARETRUST REIT, INC.
+Added: AMONG S&P 500, S&P 500 REIT INDEX, RMS, RUSSELL 2000 AND CARETRUST REIT, INC.
RATE OF RETURN TREND COMPARISON
8 unchanged sentences
RMS $ 100.00 $ 95.43 $ 120.09 $ 110.99 $ 158.79 $ 119.87
−Removed: SNL US REIT Healthcare (discontinued as of August 2021) $ 100.00 $ 99.85 $ 106.24 $ 129.10 $ 120.74 $ 140.45
+Added: Russell 2000 $ 100.00 $ 88.99 $ 111.70 $ 134.00 $ 153.85 $ 122.41
S&P 500 Real Estate Index $ 100.00 $ 97.78 $ 126.15 $ 123.41 $ 180.42 $ 133.28
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.