CTRE raises full-year outlook after reporting $0.48 normalized FFO per share, a 14% year-over-year increase.
CareTrust REIT reported a 38% year-over-year increase in normalized funds from operations (FFO) for Q1, with FFO per share rising 14% to $0.48. The company also raised its full-year 2026 guidance for both FFO and funds available for distribution (FAD).
Investment activity surged, with $1.1 billion in year-to-date transactions completed at a blended stabilized yield of 8.9%. The portfolio includes U.S. skilled nursing, senior housing, U.K. care homes, and loans. First-quarter investments totaled $245 million, followed by $865 million in deals closed since April.
The balance sheet remains strong, with no debt maturities before 2028, net debt to EBITDA at 0.6x, and a recent Moody’s investment-grade upgrade. Rent collection and portfolio coverage metrics also improved.