CareTrust REIT raises 2026 guidance after $899.6 million of Q2 investments

Healthcare REIT reported second-quarter net income of $89.0 million and Normalized FFO of $119.7 million, then detailed $291 million of August UK and Utah senior housing deals within a $540 million pipeline.

Summary

CareTrust REIT reported stronger second-quarter 2026 results and raised its full-year outlook after closing $899.6 million of investment activity during the quarter at a blended stabilized yield of 8.9%. For the quarter ended June 30, 2026, net income attributable to CareTrust REIT, Inc. was $89.0 million, or $0.38 per diluted weighted average share, while Normalized FFO was $119.7 million, or $0.51 per share, and Normalized FAD was $118.5 million, or $0.51 per share. Since quarter end, the company said it has closed another $307.9 million of investment activity at a blended stabilized yield of 7.8%, including two August transactions totaling about $291 million: a 16-property care home portfolio in England and Scotland and two Utah assisted living and memory care communities with 212 units. CareTrust said year-to-date 2026 investment activity has reached about $1.5 billion at a blended stabilized yield of roughly 8.7%, while its refreshed near-term pipeline stands at $540 million.

Terms & Concepts
  • Normalized FFO: Normalized funds from operations, a real estate investment trust cash-flow metric that adjusts earnings for property-related and other items.
  • Normalized FAD: Normalized funds available for distribution, a REIT measure of cash available to support dividends after adjustments.
  • SHOP: Senior housing operating portfolio, where the property owner participates in operating performance rather than receiving only fixed rent.