10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-15-183973 |
| Period End Date | 20150331 |
| Filing Date | 20150512 |
| Fiscal Year | 2015 |
| Fiscal Period | Q1 |
| XBRL Instance | ctre-20150331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
57 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Related party receivables |
AccountsReceivableRelatedParties
|
$1.95M | USD | Point-in-time |
| Related party receivables |
AccountsReceivableRelatedParties
|
$2.27M | USD | Point-in-time |
| Real estate investments, net |
LoansReceivableCommercialRealEstate
|
$436.21M | USD | Point-in-time |
| Real estate investments, net |
LoansReceivableCommercialRealEstate
|
$448.84M | USD | Point-in-time |
| Preferred stock, Par Value |
PreferredStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Other real estate investments |
RealEstateInvestmentsOther
|
$7.53M | USD | Point-in-time |
| Preferred stock, Shares Authorized |
PreferredStockSharesAuthorized
|
100.00M | shares | Point-in-time |
| Other real estate investments |
RealEstateInvestmentsOther
|
$7.75M | USD | Point-in-time |
| Preferred stock, Shares Issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$13.59M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$895.00K | USD | Point-in-time |
| Preferred stock, Shares Issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$927.00K | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$25.32M | USD | Point-in-time |
| Preferred stock, Shares Outstanding |
PreferredStockSharesOutstanding
|
0.00 | shares | Point-in-time |
| Accounts receivable (related party receivables of $1,953 at March 31, 2015 and $2,275 at December 31, 2014) |
AccountsReceivableNet
|
$2.01M | USD | Point-in-time |
| Preferred stock, Shares Outstanding |
PreferredStockSharesOutstanding
|
0.00 | shares | Point-in-time |
| Accounts receivable (related party receivables of $1,953 at March 31, 2015 and $2,275 at December 31, 2014) |
AccountsReceivableNet
|
$2.29M | USD | Point-in-time |
| Common Stock, Par Value |
CommonStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Common Stock, Par Value |
CommonStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Prepaid expenses and other assets |
PrepaidExpenseAndOtherAssets
|
$713.00K | USD | Point-in-time |
| Prepaid expenses and other assets |
PrepaidExpenseAndOtherAssets
|
$809.00K | USD | Point-in-time |
| Common Stock, Shares authorized |
CommonStockSharesAuthorized
|
500.00M | shares | Point-in-time |
| Deferred financing costs, net |
DeferredFinanceCostsNet
|
$9.87M | USD | Point-in-time |
| Common Stock, Shares authorized |
CommonStockSharesAuthorized
|
500.00M | shares | Point-in-time |
| Deferred financing costs, net |
DeferredFinanceCostsNet
|
$10.40M | USD | Point-in-time |
| Total assets |
Assets
|
$482.79M | USD | Point-in-time |
| Common Stock, Shares Issued |
CommonStockSharesIssued
|
31.25M | shares | Point-in-time |
| Common Stock, Shares Issued |
CommonStockSharesIssued
|
31.34M | shares | Point-in-time |
| Total assets |
Assets
|
$482.57M | USD | Point-in-time |
| Common Stock, Shares Outstanding |
CommonStockSharesOutstanding
|
31.25M | shares | Point-in-time |
| Common Stock, Shares Outstanding |
CommonStockSharesOutstanding
|
31.34M | shares | Point-in-time |
| Senior unsecured notes payable |
UnsecuredLongTermDebt
|
$260.00M | USD | Point-in-time |
| Senior unsecured notes payable |
UnsecuredLongTermDebt
|
$260.00M | USD | Point-in-time |
| Mortgage notes payable |
NotesPayable
|
$98.20M | USD | Point-in-time |
| Mortgage notes payable |
NotesPayable
|
$97.52M | USD | Point-in-time |
| Accounts payable and accrued liabilities |
AccountsPayableAndOtherAccruedLiabilities
|
$9.40M | USD | Point-in-time |
| Accounts payable and accrued liabilities |
AccountsPayableAndOtherAccruedLiabilities
|
$6.96M | USD | Point-in-time |
| Dividends payable |
DividendsPayableCurrentAndNoncurrent
|
$3.95M | USD | Point-in-time |
| Dividends payable |
DividendsPayableCurrentAndNoncurrent
|
$5.05M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$369.11M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$371.97M | USD | Point-in-time |
| Commitments and contingencies (Note 11) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Note 11) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2015 and December 31, 2014 |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2015 and December 31, 2014 |
PreferredStockValue
|
- | USD | Point-in-time |
| Common stock, $0.01 par value; 500,000,000 shares authorized, 31,341,277 and 31,251,157 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively |
CommonStockValue
|
$314.00K | USD | Point-in-time |
| Common stock, $0.01 par value; 500,000,000 shares authorized, 31,341,277 and 31,251,157 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively |
CommonStockValue
|
$313.00K | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$246.04M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$246.41M | USD | Point-in-time |
| Cumulative distributions in excess of earnings |
AccumulatedDistributionsInExcessOfNetIncome
|
$135.90M | USD | Point-in-time |
| Cumulative distributions in excess of earnings |
AccumulatedDistributionsInExcessOfNetIncome
|
$132.89M | USD | Point-in-time |
| Total equity |
StockholdersEquity
|
$162.69M | USD | Point-in-time |
| Total equity |
StockholdersEquity
|
$110.82M | USD | Point-in-time |
| Total equity |
StockholdersEquity
|
$113.46M | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$482.79M | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$482.57M | USD | Point-in-time |
Income Statement
41 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Related party rental income |
RevenueFromRelatedParties
|
$14.00M | USD | 1 Quarter |
| Related party rental income |
RevenueFromRelatedParties
|
$11.00M | USD | 1 Quarter |
| Rental income (related party rental income of $14,000 for the three months ended March 31, 2015 - Note 6) |
OperatingLeasesIncomeStatementLeaseRevenue
|
$14.84M | USD | 1 Quarter |
| Related party tenant reimbursements |
ReimbursementRevenue
|
$1.21M | USD | 1 Quarter |
| Related party tenant reimbursements |
ReimbursementRevenue
|
$1.30M | USD | 1 Quarter |
| Rental income (related party rental income of $14,000 for the three months ended March 31, 2015 - Note 6) |
OperatingLeasesIncomeStatementLeaseRevenue
|
$11.02M | USD | 1 Quarter |
| Tenant reimbursement (related party tenant reimbursements of $1,206 for the three months ended March 31, 2015 - Note 6) |
TenantReimbursements
|
$1.26M | USD | 1 Quarter |
| Tenant reimbursement (related party tenant reimbursements of $1,206 for the three months ended March 31, 2015 - Note 6) |
TenantReimbursements
|
$1.26M | USD | 1 Quarter |
| Independent living facilities |
HomeBuildingRevenue
|
$587.00K | USD | 1 Quarter |
| Independent living facilities |
HomeBuildingRevenue
|
$635.00K | USD | 1 Quarter |
| Interest and other income |
InterestAndOtherIncome
|
$223.00K | USD | 1 Quarter |
| Total revenues |
Revenues
|
$16.96M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$12.87M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$6.20M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$5.60M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$5.90M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$3.33M | USD | 1 Quarter |
| Property taxes |
RealEstateTaxExpense
|
$1.26M | USD | 1 Quarter |
| Property taxes |
RealEstateTaxExpense
|
$1.26M | USD | 1 Quarter |
| Independent living facilities |
HomeBuildingCosts
|
$543.00K | USD | 1 Quarter |
| Independent living facilities |
HomeBuildingCosts
|
$602.00K | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpenseExcludingPropertyTaxes
|
$1.56M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpenseExcludingPropertyTaxes
|
$1.90M | USD | 1 Quarter |
| Total expenses |
OperatingExpenses
|
$13.23M | USD | 1 Quarter |
| Total expenses |
OperatingExpenses
|
$14.92M | USD | 1 Quarter |
| Income (loss) before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$2.04M | USD | 1 Quarter |
| Income (loss) before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-363.00K | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$37.00K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$2.04M | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-400.00K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-8.14M | USD | Annual |
| Basic |
EarningsPerShareBasic
|
$-0.02 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.06 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.06 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.02 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
31.32M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
22.17M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
31.32M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
22.17M | shares | 1 Quarter |
| Dividends declared per common share |
CommonStockDividendsPerShareDeclared
|
$0.12 | USD | Annual |
| Dividends declared per common share |
CommonStockDividendsPerShareDeclared
|
$0.16 | USD | 1 Quarter |
Cash Flow Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income (loss) |
NetIncomeLoss
|
$2.04M | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-400.00K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-8.14M | USD | Annual |
| Depreciation and amortization |
DepreciationAndAmortization
|
$6.20M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$5.60M | USD | 1 Quarter |
| Amortization of deferred financing costs and debt discount |
AmortizationOfFinancingCostsAndDiscounts
|
$205.00K | USD | 1 Quarter |
| Amortization of deferred financing costs and debt discount |
AmortizationOfFinancingCostsAndDiscounts
|
$547.00K | USD | 1 Quarter |
| Amortization of stock-based compensation |
AllocatedShareBasedCompensationExpense
|
$366.00K | USD | 1 Quarter |
| Non-cash interest income adjustments |
InterestIncomeOperating
|
$223.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$42.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-6.00K | USD | 1 Quarter |
| Accounts receivable due from related party |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$-322.00K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$180.00K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-50.00K | USD | 1 Quarter |
| Accounts payable and accrued liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$2.40M | USD | 1 Quarter |
| Accounts payable and accrued liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$-1.51M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$4.32M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$11.05M | USD | 1 Quarter |
| Acquisition of real estate |
PaymentsToAcquireRealEstate
|
$17.50M | USD | 1 Quarter |
| Improvements to real estate |
PaymentsToDevelopRealEstateAssets
|
$74.00K | USD | 1 Quarter |
| Purchases of equipment, furniture and fixtures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$12.68M | USD | 1 Quarter |
| Purchases of equipment, furniture and fixtures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$63.00K | USD | 1 Quarter |
| Escrow deposit for acquisition of real estate |
PaymentsForDepositsOnRealEstateAcquisitions
|
$500.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-12.68M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-18.14M | USD | 1 Quarter |
| Payments on the mortgage notes payable |
ProceedsFromRepaymentsOfNotesPayable
|
$-1.85M | USD | 1 Quarter |
| Payments on the mortgage notes payable |
ProceedsFromRepaymentsOfNotesPayable
|
$-685.00K | USD | 1 Quarter |
| Payments of deferred financing costs |
PaymentsOfFinancingCosts
|
$14.00K | USD | 1 Quarter |
| Dividends paid on common stock |
PaymentsOfDividendsCommonStock
|
$3.95M | USD | 1 Quarter |
| Net contribution from Ensign (Note 6) |
ProceedsFromPaymentsForContributionsFromDistributionToParent
|
$10.24M | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$-4.64M | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$8.39M | USD | 1 Quarter |
| Net (decrease) increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-11.73M | USD | 1 Quarter |
| Net (decrease) increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$32.00K | USD | 1 Quarter |
| Cash and cash equivalents beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$13.59M | USD | Point-in-time |
| Cash and cash equivalents beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$895.00K | USD | Point-in-time |
| Cash and cash equivalents beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$927.00K | USD | Point-in-time |
| Cash and cash equivalents beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$25.32M | USD | Point-in-time |
| Cash and cash equivalents end of period |
CashAndCashEquivalentsAtCarryingValue
|
$13.59M | USD | Point-in-time |
| Cash and cash equivalents end of period |
CashAndCashEquivalentsAtCarryingValue
|
$895.00K | USD | Point-in-time |
| Cash and cash equivalents end of period |
CashAndCashEquivalentsAtCarryingValue
|
$927.00K | USD | Point-in-time |
| Cash and cash equivalents end of period |
CashAndCashEquivalentsAtCarryingValue
|
$25.32M | USD | Point-in-time |
| Interest paid |
InterestPaidNet
|
$3.33M | USD | 1 Quarter |
| Interest paid |
InterestPaidNet
|
$1.54M | USD | 1 Quarter |
| Increase in dividends payable |
IncreaseDecreaseInDividendsPayable
|
$1.10M | USD | 1 Quarter |
| Application of escrow deposit to acquisition of real estate |
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
|
$500.00K | USD | 1 Quarter |
Stockholders Equity
22 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Special dividend per share |
CommonStockSpecialDividendsPerShareDeclared
|
$5.88 | USD | Annual |
| Common dividend per share |
CommonStockDividendsPerShareDeclared
|
$0.12 | USD | Annual |
| Common dividend per share |
CommonStockDividendsPerShareDeclared
|
$0.16 | USD | 1 Quarter |
| Beginning balance |
StockholdersEquity
|
$162.69M | USD | Point-in-time |
| Beginning balance |
StockholdersEquity
|
$110.82M | USD | Point-in-time |
| Beginning balance |
StockholdersEquity
|
$113.46M | USD | Point-in-time |
| Net capital contribution from Ensign |
CapitalContributionFromParentCompany
|
$4.36M | USD | Annual |
| Unrealized gain on interest rate swap |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$197.00K | USD | 1 Quarter |
| Unrealized gain on interest rate swap |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$167.00K | USD | Annual |
| Reclassification adjustment on interest rate swap |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$-1.66M | USD | Annual |
| Net capital distribution to Ensign |
CapitalDistributionsToParent
|
$10.47M | USD | Annual |
| Amortization of stock-based compensation |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$154.00K | USD | Annual |
| Amortization of stock-based compensation |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$366.00K | USD | 1 Quarter |
| Special dividend at $5.88 per share |
SpecialDividendsCommonStock
|
$33.00M | USD | Annual |
| Common dividend |
DividendsCommonStock
|
$3.95M | USD | Annual |
| Common dividend |
DividendsCommonStock
|
$5.05M | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$2.04M | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-400.00K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-8.14M | USD | Annual |
| Ending balance |
StockholdersEquity
|
$162.69M | USD | Point-in-time |
| Ending balance |
StockholdersEquity
|
$110.82M | USD | Point-in-time |
| Ending balance |
StockholdersEquity
|
$113.46M | USD | Point-in-time |
Comprehensive Income
7 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income (loss) |
NetIncomeLoss
|
$2.04M | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-400.00K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-8.14M | USD | Annual |
| Unrealized gain on interest rate swap |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$197.00K | USD | 1 Quarter |
| Unrealized gain on interest rate swap |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$167.00K | USD | Annual |
| Comprehensive income (loss) |
ComprehensiveIncomeNetOfTax
|
$2.04M | USD | 1 Quarter |
| Comprehensive income (loss) |
ComprehensiveIncomeNetOfTax
|
$-203.00K | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.