Dave Sedgwick, president and CEO of CareTrust REIT, Inc. (NYSE: CTRE), sat down for a video interview during Nareit’s REITworld: 2024 Annual Conference in Las Vegas on Nov. 18-21.
Sedgwick reflected on the company’s record-breaking year in 2024 and its optimistic outlook for 2025. Sedgwick credited a supportive capital markets environment and a strengthened balance sheet for CareTrust’s remarkable investment growth.
“The capital markets are wide open to us,” Sedgwick said. “The street's never been more supportive of the story that we've been writing.”
He noted that while the company typically averages $225 million in new investments annually, CareTrust was on track to hit $1.4 billion by the end of 2024. Looking ahead, Sedgwick expressed similar confidence for 2025.
“Our cost of capital is better, our balance sheet is stronger, and I think the opportunity set in front of us is even more interesting than [2024 was],” he said.
When asked about the company’s plans for acquisitions and dispositions, Sedgwick emphasized continued strategic activity. While he acknowledged market uncertainties, he remains hopeful for another record-setting year, fueled by favorable conditions and promising opportunities in the health care real estate sector.