CareTrust REIT posts Q3 earnings, raises 2026 guidance and secures new financing
CareTrust REIT reported third‑quarter 2026 net income of $83.7 million, or $0.35 per diluted share, and a 20% year‑over‑year rise in normalized FFO and FAD per share to $0.54 and $0.53 respectively. The REIT closed the initial purchase of 23 newly built U.K. care homes from LNT for about £552 million ($733 million) and announced a plan to acquire the remaining 22 homes through 2027. It also raised its 2026 guidance for net income and per‑share FFO/FAD and added a $700 million term loan and an expanded $2.0 billion revolving credit facility.
Why it matters
The higher guidance and stronger balance sheet give investors confidence that the company can fund its U.K. care‑home expansion and other pipeline investments, potentially supporting dividend sustainability at the $0.39 per‑share payout. The new term loan and larger revolver increase liquidity, lowering financing risk for shareholders.
Key facts
- 1Net income for the quarter was $83.7 million, or $0.35 per diluted weighted‑average share. sec.gov
- 2Normalized FFO was $129.2 million, or $0.54 per diluted weighted‑average share, a 20% increase versus the prior year quarter. sec.gov
- 3Normalized FAD was $127.0 million, or $0.53 per diluted weighted‑average share, also up 20% YoY. sec.gov
- 4The REIT closed $739.5 million of investment activity in the quarter at an 8.3% blended stabilized yield. sec.gov
- 5It completed the first stage of a £1.1 billion acquisition of 45 U.K. care homes, buying 23 homes on October 1 2026 for £552 million ($733 million). sec.gov
- 6The company raised its 2026 guidance, now forecasting net income of $1.50‑$1.51 per share, normalized FFO of $2.08‑$2.09 per share and normalized FAD of $2.04‑$2.05 per share. sec.gov
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.