CareTrust REIT Q1 Earnings Call Highlights

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Sat, May 9, 2026 astatine 6:03 PM CDT 8 min read

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CareTrust REIT posted beardown first-quarter results, with normalized FFO up 38% twelvemonth implicit twelvemonth and normalized FFO per stock up 14% to $0.48. Management besides raised full-year 2026 guidance for some FFO and FAD.
Investment enactment accelerated sharply, with astir $1.1 cardinal of year-to-date investments completed astatine a blended stabilized output of astir 8.9%. The premix included U.S. skilled nursing and elder housing, U.K. attraction homes, loans, and SHOP investments.
The equilibrium expanse remains precise liquid and conservative, with nary scheduled indebtedness maturities earlier 2028, important revolver and ATM capacity, and nett indebtedness to EBITDA astatine conscionable 0.6x. CareTrust besides highlighted a Moody’s investment-grade upgrade and beardown rent postulation and portfolio sum metrics.

CareTrust REIT (NYSE:CTRE) reported a beardown commencement to 2026, highlighting accelerated concern activity, higher funds from operations and an accrued full-year outlook during its first-quarter net call.

President and CEO Dave Sedgwick said the institution closed astir $245 cardinal of investments during the archetypal 4th and accelerated its gait aft quarter-end, closing 12 further transactions for astir $865 cardinal since the commencement of April. Taken together, Chief Investment Officer James Callister said CareTrust has completed astir $1.1 cardinal of year-to-date investments astatine a blended stabilized output of astir 8.9%.

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Sedgwick said the results reflected “a continuation of the momentum” the institution has generated implicit the past respective years. He pointed to year-over-year normalized FFO per stock maturation of 14%, a 16.4% dividend increase, an investment-grade upgrade from Moody’s and a higher 2026 FFO guidance range.

Investment Activity Spans Skilled Nursing, U.K. Care Homes and SHOP

Callister said first-quarter concern enactment was anchored by a sale-leaseback of a six-property skilled nursing portfolio successful the Mid-Atlantic, leased to an existing relation astatine a output of astir 9%. The 4th besides included U.K. attraction location investments and a smaller indebtedness secured by a skilled nursing installation operated by 1 of CareTrust’s existing operators.

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Since April 1, the institution closed 12 much transactions totaling astir $865 cardinal astatine a blended stabilized output of astir 8.9%. Callister said that enactment was weighted toward U.S. skilled nursing and included an “opportunistic transaction” with a caller operating relationship, arsenic good arsenic further skilled nursing and elder lodging triple-net investments, caller and incremental loans, a 2nd SHOP concern and much U.K. attraction location activity.

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