CareTrust REIT(NYSE) CTRE

CareTrust REIT owns and leases healthcare buildings like nursing homes across the United States and the United Kingdom. It helps local medical providers find high-quality spaces to care for seniors and patients. The company makes money by collecting rent and interest from these healthcare businesses.

What CareTrust Owns

• Skilled Nursing Facilities: Licensed buildings providing 24-hour medical care and rehabilitation; accounts for 74% of revenue for the year ended December 31, 2025.
• Senior Housing Communities: Residential settings for older adults needing help with daily tasks or memory care; accounts for 25% of revenue for the year ended December 31, 2025.
• Other Real Estate Investments: Loans and preferred equity provided to healthcare operators; includes 16 real estate secured loans and five mezzanine loans as of December 31, 2025.
• SHOP Portfolio: Three senior housing communities in Texas where the company participates directly in daily business results through a third-party manager.

Recent Growth and Expansion

• Completed the acquisition of Care REIT plc and its investment manager on May 8, 2025, to expand into the United Kingdom market.
• Invested $1.57 billion in 165 new properties between January 1, 2025, and December 31, 2025, adding over 11,000 beds and units.
• Sold 24 properties during 2025 for $153.5 million to optimize the portfolio, resulting in a gain of $31.5 million.
• Established a Senior Housing Operating Portfolio (SHOP) platform in late 2025 to gain direct exposure to property performance.

A Specialized Real Estate Strategy

CareTrust uses an umbrella partnership structure that allows property owners to trade their buildings for company units while deferring taxes. The company manages a geographically diverse portfolio across 32 states and the United Kingdom to reduce the impact of local market changes.

The Financial Scorecard

• Revenue reached $135.1 million in Q4 2025, up 117.1% year-over-year.
• Net income rose to $111.3 million in Q4 2025, an increase of 113.5% from Q4 2024.
• Operating cash flow hit $121 million in Q4 2025, up 60.8% year-over-year.
• Market capitalization grew to $8.1 billion by the end of 2025, up 63.9% from the previous year.

Bottom Line

CareTrust has transformed from a domestic landlord into an international healthcare real estate firm with a diverse mix of leases and loans. This evolution from a single-tenant focus to a broad platform supports its growth in the aging healthcare sector.