CareTrust REIT Inc

Latest Results (19.11.2025):

For the quarter ended September 30, 2025, CareTrust REIT Inc reported robust financial performance marked by a 67% increase in net income to $74.9 million ($0.35 per diluted share) alongside rises in normalized FFO and normalized FAD per share. This strong quarter was supported by significant investment activity, a solid liquidity profile with net debt at 0.42x EBITDA, a successful equity offering raising $736.0 million, and updated 2025 guidance, setting the stage for continued momentum into 2026.

Financial Performance

CareTrust REIT Inc achieved a net income of $74.9 million and net income per diluted share of $0.35, with normalized FFO at $94.7 million ($0.45 per share) and normalized FAD at $93.1 million ($0.44 per share), representing increases of 67%, 18%, and 13% respectively over the same quarter of the prior year.

Investment Activity

During the quarter, the company closed $59.4 million of investment activity at a blended stabilized yield of 8.8%, and since quarter end, additional investments totaling approximately $436.5 million have been closed, while maintaining an investment pipeline of approximately $600 million.

Liquidity & Capital Access

CareTrust REIT Inc maintained a strong liquidity profile with a net debt-to-annualized normalized run rate EBITDA of 0.42x, approximately $334 million in cash on hand, and no outstanding borrowings on its $1.2 billion revolver. The company also raised $736.0 million in gross proceeds from a public offering, reinforcing its financial strength.

Guidance & Dividend

Updated guidance for 2025 projects net income of approximately $1.41 to $1.42 per diluted share, normalized FFO and normalized FAD of about $1.76 to $1.77 per share, while maintaining a quarterly dividend of $0.335 per share, reflecting a payout ratio of roughly 76% on normalized FAD during the quarter.