Logo

CTRE

CareTrust REIT, Inc.

CTRE

CareTrust REIT, Inc. • NYSE
$37.53 ▲ 0.24% (+0.09)
Market Cap $7.26 B
52w High $37.90
52w Low $24.79
Dividend Yield 1.29%
P/E 27.6
Volume 578.83K
Outstanding Shares 193.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $132.444M ▲ $15.42M ▼ $74.901M ▲ 56.553% ▼ $0.35 ▼ $103.7M ▲
Q2-2025 $86.033M ▲ $33.764M ▲ $68.545M ▲ 79.673% ▼ $0.36 ▲ $103.185M ▲
Q1-2025 $71.646M ▲ $26.864M ▼ $65.802M ▲ 91.843% ▲ $0.35 ▲ $89.703M ▲
Q4-2024 $62.199M ▲ $29.7M ▲ $52.135M ▲ 83.82% ▲ $0.29 ▲ $72.591M ▲
Q3-2024 $57.153M $20.672M $33.441M 58.511% $0.21 $55.566M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $712.48M ▲ $5.089B ▲ $1.072B ▼ $3.994B ▲
Q2-2025 $306.051M ▲ $4.657B ▲ $1.332B ▲ $3.301B ▲
Q1-2025 $26.51M ▼ $3.884B ▲ $936.271M ▲ $2.927B ▲
Q4-2024 $213.822M ▼ $3.437B ▲ $507.633M ▲ $2.908B ▲
Q3-2024 $377.102M $2.921B $496.143M $2.422B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $74.93M ▲ $100.912M ▲ $-75.514M ▲ $381.015M ▲ $406.429M ▲ $97.682M ▲
Q2-2025 $67.902M ▲ $100.775M ▲ $-789.396M ▼ $361.843M ▼ $-326.459M ▼ $96.268M ▲
Q1-2025 $65.193M ▲ $71.382M ▼ $-35.91M ▲ $383.216M ▼ $418.688M ▲ $69.106M ▼
Q4-2024 $51.955M ▲ $75.208M ▲ $-685.596M ▼ $447.108M ▲ $-163.28M ▼ $71.35M ▲
Q3-2024 $33.276M $67.248M $-359.45M $174.17M $-118.032M $64.375M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $100.00M ▲$110.00M ▲$130.00M ▲

Five-Year Company Overview

Income Statement

Income Statement CareTrust’s income statement shows a steady build in its rental income over the last five years, with only modest bumps along the way. Profitability has remained solid throughout, and recent years show healthier bottom‑line results than earlier in the period. There was a dip in operating profit one year ago relative to revenue, but the latest year shows stronger net earnings and earnings per share, suggesting cleaner results with fewer drags from non‑operating items. Overall, the business looks consistently profitable with a gentle upward trend in both revenue and earnings over time, which is what you want to see from a long‑term, lease‑driven REIT model.

Balance Sheet

Balance Sheet The balance sheet has strengthened meaningfully. Total assets have grown a lot, reflecting an expanding property portfolio, while equity has risen even faster than debt. Debt levels have actually moved down in the most recent year, pointing to a more conservative use of borrowing. Cash on hand is much higher than it was several years ago, giving the company more flexibility. Taken together, CareTrust appears to be funding growth with a healthy balance of internal capital and modest leverage, rather than stretching its balance sheet.

Cash Flow

Cash Flow Cash flow from operations has been consistently strong and has grown over time, closely tracking the rise in earnings. Free cash flow is very similar to operating cash flow because the company’s capital spending needs are low, which fits with its triple‑net lease model where tenants handle most property costs. This pattern suggests that the cash coming in the door is both stable and largely available for debt service, dividends, and reinvestment, with no obvious signs of cash strain in recent years.

Competitive Edge

Competitive Edge CareTrust focuses on a specific slice of healthcare real estate: mostly skilled nursing and senior housing, under long‑term triple‑net leases. Its edge comes less from technology and more from deep operator relationships and disciplined deal selection. Management’s background as operators helps them pick stronger tenants and structure leases with healthy rent coverage, which supports more reliable rent payments. The portfolio is spread across many states and operators, which helps reduce single‑tenant or single‑market risk, though the company is still exposed to healthcare reimbursement changes, regulatory shifts, and the financial health of its largest tenants. Within the healthcare REIT niche, CareTrust looks like a careful, relationship‑driven consolidator in a fragmented market.

Innovation and R&D

Innovation and R&D Instead of traditional R&D, CareTrust’s “innovation” is in how it structures and grows its business. It emphasizes an operator‑first, partnership model, creative financing structures like sale‑leasebacks and tailored leases, and careful use of data on operator performance and healthcare trends. The company is also experimenting with geographic expansion, notably into the United Kingdom, and selectively broadening beyond skilled nursing while keeping that as its core. The key watchpoints are whether it can maintain underwriting discipline, keep tenant quality high as it grows, and integrate new markets without diluting its relationship and risk standards.

Summary

CareTrust REIT presents as a steadily growing, consistently profitable healthcare landlord with a conservative financial posture. Income has trended upward, cash generation is strong and predictable, and the balance sheet shows expanding equity and moderating leverage. Strategically, the company leans on deep tenant relationships, disciplined acquisitions, and a focused niche in needs‑based senior care, now supplemented by early international exposure. The main opportunities lie in continued consolidation of a fragmented sector and leveraging its reputation as a reliable capital partner. The main risks center on healthcare policy and reimbursement, interest‑rate and financing conditions, tenant health, and execution risk as it scales and expands abroad. Overall, the picture is one of measured growth built on prudence rather than aggressive financial or technological bets.

NEWS

November 5, 2025 · 4:17 PM UTC

CareTrust REIT Announces Third Quarter 2025 Operating Results

Read more

November 5, 2025 · 4:16 PM UTC

CareTrust REIT Announces $437 Million of Acquisitions

Read more

October 27, 2025 · 8:59 AM UTC

CareTrust REIT Appoints Gregory K. Stapley to Board of Directors

Read more

October 23, 2025 · 4:05 PM UTC

CareTrust REIT Sets Third Quarter Earnings Call for Thursday, November 6, 2025

Read more

September 29, 2025 · 4:18 PM UTC

CareTrust Publishes Fifth Annual Corporate Sustainability Report

Read more