Company Announces Annual Meeting
Results
Care Capital Properties, Inc. (NYSE: CCP) (“CCP” or the
“Company”) announced today that its Board of Directors declared a
regular quarterly dividend of $0.57 per share, payable in cash on
June 30, 2017 to stockholders of record on June 9, 2017.
At CCP’s Annual Meeting of Stockholders today, stockholders
voted to re-elect each of CCP’s director-nominees to new one-year
terms: Douglas Crocker II, John S. Gates, Jr., Ronald G. Geary,
Raymond J. Lewis, Jeffrey A. Malehorn, Dale Anne Reiss, and John L.
Workman. Stockholders also ratified the selection of KPMG LLP as
CCP’s independent registered public accounting firm for 2017.
Care Capital Properties, Inc. is a healthcare real estate
investment trust with a diversified portfolio of triple-net leased
properties, focused on the post-acute sector. The Company’s skilled
management team is fully invested in delivering excellent returns
by forging strong relationships with shareholders, operators, and
employees. More information about Care Capital Properties, Inc. can
be found at: www.carecapitalproperties.com.
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements regarding CCP’s or its tenants’ or
borrowers’ expected future financial condition, results of
operations, cash flows, funds from operations, dividends and
dividend plans, financing opportunities and plans, capital markets
transactions, business strategy, budgets, projected costs,
operating metrics, capital expenditures, competitive positions,
acquisitions, investment opportunities, dispositions, growth
opportunities, expected lease income, continued qualification as a
real estate investment trust (“REIT”), plans and objectives of
management for future operations and statements that include words
such as “anticipate,” “if,” “believe,” “plan,” “estimate,”
“expect,” “intend,” “may,” “could,” “should,” “will” and other
similar expressions are forward-looking statements. These
forward-looking statements are inherently uncertain, and actual
results may differ materially from CCP’s expectations. Except as
required by law, CCP does not undertake a duty to update these
forward-looking statements, which speak only as of the date on
which they are made.
Factors that could cause CCP’s actual future results and trends
to differ materially from those anticipated are discussed in its
filings with the Securities and Exchange Commission and include,
without limitation: (a) the ability and willingness of CCP’s
tenants, borrowers and other counterparties to satisfy their
obligations under their respective contractual arrangements with
CCP, including, in some cases, their obligations to indemnify,
defend and hold harmless CCP from and against various claims,
litigation and liabilities; (b) the ability of CCP’s tenants and
borrowers to maintain the financial strength and liquidity
necessary to satisfy their respective obligations and liabilities
to third parties, including without limitation obligations under
their existing credit facilities and other indebtedness, and the
impact of CCP’s tenants or borrowers declaring bankruptcy or
becoming insolvent; (c) CCP’s ability to successfully execute its
business strategy, including identifying, underwriting, financing,
consummating and integrating suitable acquisitions and investments;
(d) macroeconomic conditions such as a disruption in or lack of
access to the capital markets, changes in the debt rating on U.S.
government securities, default or delay in payment by the United
States of its obligations, and changes in federal or state budgets
resulting in the reduction or nonpayment of Medicare or Medicaid
reimbursement rates; (e) the nature and extent of competition in
the markets in which CCP’s properties are located; (f) the impact
of pending and future healthcare reform and regulations, including
cost containment measures, quality initiatives and changes in
reimbursement methodologies, policies, procedures and rates; (g)
increases in CCP’s borrowing costs as a result of changes in
interest rates and other factors; (h) the ability of CCP’s tenants
to successfully operate CCP’s properties in compliance with
applicable laws, rules and regulations, to deliver high-quality
services, to hire and retain qualified personnel, to attract
residents and patients, and to participate in government or managed
care reimbursement programs; (i) changes in general economic
conditions or economic conditions in the markets in which CCP may,
from time to time, compete for investments, capital and talent, and
the effect of those changes on CCP’s earnings and financing
sources; (j) CCP’s ability to repay, refinance, restructure or
extend its indebtedness as it becomes due; (k) CCP’s ability and
willingness to maintain its qualification as a real estate
investment trust in light of economic, market, legal, tax and other
considerations; (l) final determination of CCP’s taxable net income
for the year ended December 31, 2016 and for current and future
years; (m) the ability and willingness of CCP’s tenants to renew
their leases with CCP upon expiration of the leases, CCP’s ability
to reposition its properties on the same or better terms in the
event of nonrenewal or in the event CCP exercises its right to
replace an existing tenant, and obligations, including
indemnification obligations, CCP may incur in connection with the
replacement of an existing tenant; (n) year-over-year changes in
the Consumer Price Index and the effect of those changes on the
rent escalators contained in CCP’s leases and on CCP’s earnings;
(o) CCP’s ability and the ability of its tenants and borrowers to
obtain and maintain adequate property, liability and other
insurance from reputable, financially stable providers; (p) the
impact of increased operating costs and uninsured professional
liability claims on CCP’s or its tenants’ or borrowers’ liquidity,
financial condition and results of operations, and the ability of
CCP and its tenants and borrowers to accurately estimate the
magnitude of those costs and claims; (q) consolidation in the
healthcare industry resulting in a change of control of, or a
competitor’s investment in, one or more of CCP’s tenants or
borrowers or significant changes in the senior management of CCP’s
tenants or borrowers; (r) the impact of litigation or any
financial, accounting, legal or regulatory issues, including
government investigations, enforcement proceedings and punitive
settlements, that may affect CCP or its tenants or borrowers; (s)
changes in accounting principles, or their application or
interpretation, and CCP’s ability to make estimates and the
assumptions underlying the estimates, which could have an effect on
CCP’s earnings; and (t) risks related to CCP’s proposed merger with
Sabra Health Care REIT, Inc., including that the proposed merger
will require significant time, attention and resources, potentially
diverting attention from the conduct of CCP’s business, the
potential adverse effect on CCP’s tenant and vendor relationships,
operating results and business generally resulting from the
proposed merger, and the anticipated and unanticipated costs, fees,
expenses and liabilities relating to the proposed merger. Many of
these factors are beyond the control of CCP and its management.
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version on businesswire.com: http://www.businesswire.com/news/home/20170518006518/en/
Care Capital Properties, Inc.Lori B. WittmanExecutive Vice
President and Chief Financial
Officerlwittman@carecapitalproperties.com312.881.4702
Care Capital Properties, Inc. (delisted) (NYSE:CCP)
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