CareTrust REIT, Inc. Earnings Recaps
Q2 2026
Aug 9, 2026
CareTrust shares were little changed post-earnings (+0.2%) as the company's operational momentum and record investments balanced investor caution around margin pressures and competitive market conditions.
Key takeaways
- Q2 investment activity hit an all-time high with approximately $900 million deployed at a blended yield of 8.9%, contributing to $1.5 billion invested year-to-date.
- The acquisition pipeline remains robust at around $540 million, with continued opportunities in U.S. skilled nursing, U.K. Care Homes, and strategic loans.
- Operator quality metrics exceeded industry averages, underpinning the company’s strategy of partnering with high-quality, mission-driven operators.
- Management highlighted growth across all three platforms—skilled nursing, SHOP, and U.K. Care Homes—despite ongoing cap rate compression in SHOP.
- The tone around outlook was cautious yet constructive, emphasizing a disciplined investment approach amid competitive market dynamics.
Q1 2026
May 9, 2026
CareTrust REIT shares rose 5.3% following the quarter, reflecting investor approval of accelerated deal activity and a raised FFO per share guidance that implies nearly 15% growth over 2025. The market rewarded the company’s growing portfolio, strong tenancy metrics, and upgraded credit profile.
Key takeaways
- Closed $245 million in investments during Q1 2026, with a 12-transaction, $865 million spree since April, signaling aggressive deployment of capital at ~8.8%-8.9% stabilized yields.
- Raised full-year FFO per share guidance midpoint by 14.8%, supporting management’s outlook for sustained growth.
- Dividend increased 16.4% year-over-year, demonstrating confidence in cash flow stability.
- Moody’s upgraded CareTrust to investment grade, reflecting improved credit fundamentals.
- Tenant financials remain robust with 2.25x EBITDAR and 2.79x EBITDARM rent coverage; collected 100% of contractual rent and interest in Q1.
Q3 2025
Nov 8, 2025
CareTrust REIT delivered robust third-quarter results with normalized FFO per share growing 18% year-over-year to $0.45, supported by a historic $1.6 billion in year-to-date investments and strategic expansions into new growth areas.
Key takeaways
- Closed $495 million in new investments during Q3, driving total year-to-date investments to over $1.6 billion.
- Third-quarter normalized FFO per share of $0.45 reflects a strong 18% increase compared to the same quarter last year.
- Integration of a U.K. acquisition is progressing well, with new opportunities now comprising one-third of the current $600 million deal pipeline.
- Positioned to launch a third growth engine in Senior Housing Operating Properties (SHOP) with expectations to close the first deal by year-end.
- Strengthened balance sheet with zero near-term debt maturities until 2028, enhancing liquidity for future investments.