CareTrust REIT (CTRE) investor relations material

Executive summary

• Achieved record Q2 2026 results with net income of $89.0 million, up 30% year-over-year, and net income per diluted share of $0.38, up 9% from the prior year quarter.

• Normalized FFO per diluted share rose 19% year-over-year to $0.51; Normalized FAD per diluted share also increased 19% to $0.51.

• Total revenues for Q2 2026 reached $161.3 million, up 43% year-over-year, with portfolio expansion to 628 properties and significant growth in senior housing and skilled nursing segments.

• Closed $899.6 million in investment activity at a blended stabilized yield of 8.9% during the quarter, with a robust and diverse pipeline across the US and UK.

• Maintained 100% collection of contractual rent and interest, with operator quality care measures exceeding industry averages.

Financial highlights

• Normalized FFO for Q2 2026 was $119.7 million ($0.51 per share), up from $83.1 million ($0.43 per share) in Q2 2025.

• Normalized FAD for Q2 2026 was $118.5 million ($0.51 per share), compared to $83.1 million ($0.43 per share) in Q2 2025.

• Rental income for Q2 2026 was $118.2 million, up from $86.0 million in Q2 2025.

• Net debt to annualized normalized run rate EBITDA improved to 1.01x from 2.0x a year ago.

• Dividend payout ratio was approximately 76% of Normalized FAD, with a quarterly dividend of $0.39 per share.

Outlook and guidance

• Full-year 2026 guidance raised: normalized FFO per share projected at $2.03–$2.06, FAD per share at $2.01–$2.04, representing 16.2% and 15.1% growth over 2025, respectively.

• Guidance assumes no new investments, loans, or dispositions beyond those made year-to-date, and 2.5% inflation-based rent escalators.

• Management expects sufficient liquidity for at least 12 months, supported by cash flow, credit facility, and equity programs.