CareTrust REIT Q1 net income rises

CareTrust REIT

07/05/2026 21:31

Overview

US healthcare property landlord's Q1 net income rose 3% yr/yr but missed analyst expectations

Normalized FFO per share for Q1 rose 14% yr/yr

Company raised quarterly dividend 16.4% yr/yr to $0.39 per share

Outlook

CareTrust raises 2026 net income guidance to $1.49-$1.53 per share

Company now sees 2026 normalized FFO of $2.00-$2.04 per share

CareTrust expects 2026 normalized FAD of $1.98-$2.02 per share

Result Drivers

INVESTMENT ACTIVITY - Q1 results benefited from $245.1 mln of investment activity closed at a blended stabilized yield of 8.8%

RENTAL INCOME GROWTH - Rental income rose to $114.2 mln from $71.6 mln a year earlier, contributing to higher FFO and FAD

RENT AND INTEREST COLLECTIONS - Co reported 100% collection of contractual rent and interest in Q1

Company press release: ID:nBw2Cb2FGa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
Miss
$80.20 mln
$84.005 mln (8 Analysts)
Q1 Dividend
$0.39


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for CareTrust REIT Inc is $43.50, about 10.2% above its May 6 closing price of $39.48

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)