CareTrust REIT, Inc. reported significant financial growth for the fiscal year ending December 31, 2025, with total revenues reaching $369.4 million, a 62% increase from $228.3 million in 2024. This growth was primarily driven by a substantial rise in rental income, which increased by $139.9 million to $368.2 million, largely due to new acquisitions and increased rental rates. The company also recorded $1.2 million in resident fees and services following the establishment of its senior housing operating platform (SHOP) in December 2025. Interest income from financing receivables surged to $11.5 million, up from $1.0 million the previous year, reflecting the company's strategic investments in real estate-related loans.
In terms of operational changes, CareTrust REIT completed the acquisition of Care REIT plc on May 8, 2025, for approximately $595.4 million, which included assuming liabilities of about $290.9 million. This acquisition expanded CareTrust's portfolio to 407 skilled nursing facilities and senior housing communities, totaling 37,628 operational beds across 32 states and the U.K. The company also initiated its first SHOP acquisition, adding three senior housing communities in Texas, which are managed by independent operators. These strategic moves are expected to enhance CareTrust's market position and operational efficiency.
The company’s operational metrics showed a strong performance, with a 76% occupancy rate in skilled nursing facilities and an 86% occupancy rate in senior housing triple-net properties. CareTrust's geographic footprint remains diverse, with significant concentrations in California, the U.K., Texas, and Tennessee. The company also reported a total of 43 full-time employees as of December 31, 2025, reflecting its commitment to maintaining a robust operational structure.
Looking ahead, CareTrust REIT anticipates continued growth driven by its diversified portfolio and strategic acquisitions. However, the company acknowledged potential risks, including economic uncertainties, regulatory changes, and the impact of inflation on operational costs. The management emphasized the importance of monitoring market conditions and tenant performance to mitigate these risks. The company remains committed to maintaining its REIT status, which requires distributing at least 90% of its taxable income to shareholders, and plans to continue its focus on opportunistic acquisitions and enhancing tenant relationships to drive long-term value.
About CareTrust REIT, Inc.
CareTrust REIT is a publicly-traded real estate investment trust specializing in healthcare properties, including skilled nursing, seniors housing, assisted living, and independent living facilities. It owns, leases, and finances a diversified portfolio across the U.S., primarily through long-term triple-net leases to healthcare operators. The company focuses on opportunistic acquisitions, portfolio diversification, and supporting quality operators to generate stable cash flow and long-term value.
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