CareTrust REIT Inc
F:7XC
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CareTrust REIT Inc
F:7XC
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CareTrust REIT Inc
CareTrust REIT owns healthcare real estate and rents it to operators that run skilled nursing facilities, assisted living communities, and other senior care properties. It does not run the care businesses itself. Instead, it acts as a landlord and sometimes a lender to healthcare providers that need buildings and financing to serve patients and residents. Its customers are nursing home operators, senior housing operators, and other care providers. CareTrust makes money mostly from rent on leased properties and, in some cases, from interest on mortgage or other real estate-backed loans. That gives it a steady, contract-based income stream tied to the business of long-term and post-acute care. What makes the business model different is that CareTrust sits in the middle of healthcare and real estate. It owns specialized buildings that are hard to repurpose, so operators often prefer long-term lease relationships rather than buying the properties themselves. For investors, that means the company is mainly a property owner with healthcare exposure, not a healthcare service company.
CareTrust REIT owns healthcare real estate and rents it to operators that run skilled nursing facilities, assisted living communities, and other senior care properties. It does not run the care businesses itself. Instead, it acts as a landlord and sometimes a lender to healthcare providers that need buildings and financing to serve patients and residents.
Its customers are nursing home operators, senior housing operators, and other care providers. CareTrust makes money mostly from rent on leased properties and, in some cases, from interest on mortgage or other real estate-backed loans. That gives it a steady, contract-based income stream tied to the business of long-term and post-acute care.
What makes the business model different is that CareTrust sits in the middle of healthcare and real estate. It owns specialized buildings that are hard to repurpose, so operators often prefer long-term lease relationships rather than buying the properties themselves. For investors, that means the company is mainly a property owner with healthcare exposure, not a healthcare service company.
Strong growth: CareTrust said Q1 was a strong start to the year, with year-over-year FFO per share growth of 14% and normalized FFO rising 38% to $107.4 million.
Guidance raised: Management lifted 2026 full-year guidance to normalized FFO per share of $2 to $2.04 and normalized FAD per share of $1.98 to $2.02.
Deal pace accelerated: The company closed about $245 million of investments in Q1 and another $865 million since the start of April, bringing year-to-date activity to about $1.1 billion.
Balance sheet strength: Moody’s upgraded CareTrust to investment grade after quarter end, and management said the company has ample liquidity and low leverage to keep funding growth.
SHOP still competitive: Management said SHOP is an important growth engine, but competition remains intense and cap rates have compressed, making discipline and relationships critical.
Operator quality: CareTrust highlighted strong tenant performance, saying its skilled nursing operators showed better CMS outcomes than sector averages and portfolio rent coverage remained strong.
