CareTrust REIT, Inc. Announces Upsize and Pricing of Public Offering of Common Stock

SAN CLEMENTE, Calif., March 21, 2016 -- CareTrust REIT, Inc. (Nasdaq:CTRE) announced the upsize and pricing of its underwritten public offering. The size of the offering has been increased from the previously announced 7,500,000 shares of common stock to 8,500,000 shares of common stock at a price to the public of $11.35 per share. The offering is expected to close on March 28, 2016, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of common stock.

The Company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which in turn intends to use the net proceeds to fund pending acquisitions and may, in the interim, repay borrowings outstanding on the Company’s revolving credit facility.

KeyBanc Capital Markets, Wells Fargo Securities, BMO Capital Markets, Raymond James and Barclays are acting as joint book-running managers for the offering. RBC Capital Markets, Canaccord Genuity, Capital One Securities and Fifth Third Securities are acting as co-managers for the offering.

A shelf registration statement (including prospectus) relating to the Company’s common stock was previously filed with the Securities and Exchange Commission and has been declared effective.

This offering may only be made by means of a prospectus supplement and the accompanying prospectus.  A copy of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, Ohio 44114 or by telephone at (800) 859-1783, Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152 or by telephone at (800) 326-5897 or email a request to [email protected], or BMO Capital Markets Corp., Attention: Syndicate Department, 3 Times Square, 25th Floor, New York, New York 10036 or by telephone at (800) 414-3627 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CareTrust^TM

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust that is engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 133 net-leased healthcare properties and three operated seniors housing properties in 18 states, CareTrust is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

CONTACT: CareTrust REIT, Inc. (949) 542-3130, [email protected]