Caretrust Reit, Inc. · NYSE:CTRE
Caretrust Reit — Q2 2026 Earnings Presentation
24 slides from Caretrust Reit's earnings presentation, Aug 7, 2026
Slide 1: Financial Supplement Second Quarter 2026
Financial Supplement Second Quarter 2026
Slide 2: Disclaimers
Disclaimers This supplement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the following: operating and financial per
Slide 3: Table of Contents
Table of Contents CONTACT INFORMATION COMPANY SNAPSHOT 4 INVESTMENTS 5 CareTrust REIT, Inc. PORTFOLIO OVERVIEW 7 24901 Dana Point Harbor Dr. Suite A200 Rent Coverage Dana Point, CA 92629 Rent Diversification (949) 542-3130 ir@caretrustreit.com Revenue Maturity & Purchase Options www.caretrustreit.co
Slide 4: Company Snapshot
Company Snapshot Portfolio Mix Bed / Unit Mix(1) Senior Housing Communities Skilled Assisted Memory Independent Properties(1) Total Nursing Living Care Living Care Home Skilled Nursing 400 42,803 41,413 1,257 38 95 — Senior Housing 224 15,600 624 4,607 996 1,123 8,250 Senior Housing Operating 4 372
Slide 5: Investment Activity
Investment Activity Q2'26 Initial Investment per Investment Investments Properties Beds / Units Bed / Unit (000s) Yield(1) Skilled Nursing Triple-net 1 124 $ 161,992 $ 20,087 9.1% Senior Housing Triple-net 8 854 196,269 167,614 8.5% Senior Housing Operating 1 102 153,725 15,680 8.6% Financing Receiv
Slide 6: Joint Ventures
Joint Ventures(1) Properties Skilled Nursing Senior Housing Senior Housing Beds / % Year Investment Triple-net Triple-net Operating Units Ownership 2023 $ 61,260 3 — — 385 98% 2024 507,498 28 3 — 3,399 96% 2025 279,919 14 — 3 1,839 97% 2026 45,642 — 2 1 373 98% Total $ 894,319 45 5 4 5,996 96% 6 Not
Slide 7: Rent Coverage
Rent Coverage EBITDARM Coverage(1) As of Q1 '26 Skilled Senior Nursing Housing Stabilized Portfolio Operators Properties Triple-net Triple-net Total Q4 '25 Q3 '25 < 1.00x — — —% —% —% —% —% 1.00 - 1.39x — — —% —% —% —% 8% 1.40 - 1.79x 6 45 —% 10% 10% 19% 19% 1.80 - 2.19x 6 82 24% 15% 39% 28% 17% 2.2
Slide 8: Rent Diversification
Rent Diversification(1) Skilled Nursing Senior Housing Operator Properties Triple-net Triple-net Total % of Total The Ensign Group 112 $ 91,480 $ 2,477 $ 93,957 21% PACS Group 26 43,368 — 43,368 10% Priority Management Group 15 32,799 — 32,799 7% Minster Care Management 49 — 23,767 23,767 5% Links H
Slide 9: Revenue Maturity & Purchase Options
Revenue Maturity & Purchase Options Revenue Maturity Rental Income(1) Interest Income(2) Skilled Nursing Senior Housing Financing Loans and Other Year Triple-net Triple-net Receivables Investments Total % of Total 2026 $ — $ — $ — $ 2,463 $ 2,463 —% 2027 — — — 12,710 12,710 2% 2028 — — — 15,492 15,4
Slide 10: Debt Summary
Debt Summary(1) Revolving Senior Senior Line of Unsecured Unsecured Wtd. Avg. Year Credit(2) Notes Term Loan(3) Total Debt % of Total Interest Rate 2026 $ — $ — $ — $ — —% —% 2027 — — — — —% —% 2028 — 400,000 — 400,000 33% 3.875% 2029 310,000 — — 310,000 26% 4.670% 2030 — — 500,000 500,000 41% 4.630
Slide 11: Key Debt Metrics
Key Debt Metrics Fixed Charge Coverage (trailing twelve months) (dollars in thousands) Q2'26 Q1'26 Q2'25 Total cash interest $ 46,083 $ 43,934 $ 29,505 Secured debt principal amortization — — — Total fixed charges 46,083 43,934 29,505 Normalized EBITDA attributable to CareTrust REIT, Inc.(1) 493,545
Slide 12: Capital Market Transactions
Capital Market Transactions Follow-On Equity Offering Activity Number of Public Offering Gross Proceeds Year Shares (000s) Price per Share (000s) 2026(1) — $ — $ — 2025 23,000 $ 32.00 $ 736,000 2024 15,870 $ 32.00 $ 507,840 2019 6,641 $ 23.35 $ 155,073 2016(2) 16,100 $ 12.14 $ 195,385 2015 16,330 $
Slide 13: Guidance
Guidance FY2026 Total (in millions) Per Share Low High Low High Net income attributable to CareTrust REIT, Inc. $ 356 $ 364 $ 1.53 $ 1.56 Real estate related depreciation and amortization, net of NCI 112 112 0.48 0.48 Funds from Operations (FFO) 468 476 2.01 2.04 Normalizing items(1) 4 4 0.02 0.02 N
Slide 14: Appendix
Appendix
Slide 15: Consolidated Income Statements
Consolidated Income Statements For the Three Months Ended For the Six Months Ended (in thousands, except per share amounts) June 30, June 30, 2026 2025 2026 2025 Revenues Rental income $ 118,205 $ 86,033 $ 232,401 $ 157,679 Resident fees and services 4,643 — 8,495 — Interest income from financing re
Slide 16: Reconciliation of EBITDA
Reconciliation of EBITDA Trailing Twelve Trailing Twelve Quarter Ended Months Ended Quarter Ended Months Ended (in thousands) March 31, 2026 March 31, 2026 June 30, 2026 June 30, 2026 Net income attributable to CareTrust REIT, Inc. $ 80,210 $ 334,946 $ 88,996 $ 355,397 Depreciation and amortization
Slide 17: Reconciliation of EBITDA
Reconciliation of EBITDA Quarter Ended Trailing Twelve Months (in thousands) June 30, 2025 Ended June 30, 2025 Net income attributable to CareTrust REIT, Inc. $ 68,545 $ 219,923 Depreciation and amortization 21,215 68,579 Noncontrolling interests' share of real estate related depreciation and amorti
Slide 18: Reconciliation of FFO
Reconciliation of FFO For the Three Months Ended For the Six Months Ended (in thousands) June 30, June 30, 2026 2025 2026 2025 Net income attributable to CareTrust REIT, Inc. $ 88,996 $ 68,545 $ 169,206 $ 134,347 Real estate related depreciation and amortization 30,212 21,208 59,495 39,041 Noncontro
Slide 19: Reconciliation of FFO and FAD
Reconciliation of FFO and FAD For the Three Months Ended For the Six Months Ended (in thousands, except per share amounts) June 30, June 30, 2026 2025 2026 2025 Net income attributable to CareTrust REIT, Inc. $ 88,996 $ 68,545 $ 169,206 $ 134,347 Real estate related depreciation and amortization 30,
Slide 20: Consolidated Balance Sheets
Consolidated Balance Sheets (in thousands) June 30, December 31, 2026 2025 Assets Real estate investments, net $ 4,062,841 $ 3,709,576 Financing receivables, net 556,155 92,193 Other real estate related investments, net 1,148,485 899,262 Cash and cash equivalents 47,591 198,042 Restricted cash 1,676
Slide 21: Enterprise Value
Enterprise Value June 30, (in thousands, except per share amounts) 2026 2025 Total debt $ 1,210,000 $ 1,161,990 Less cash, cash equivalents, and restricted cash 49,267 306,051 Less net proceeds from forward equity offering and ATM forward sales(1) 576,958 — Net debt 583,775 855,939 Common shares out
Slide 22: Property Detail
Property Detail(1) Skilled Nursing Senior Housing Senior Housing Triple-net Triple-net Operating Total Total Properties 243 183 4 430 Recent acquisitions (63) (21) (4) (88) Under development — — — — Held for sale — — — — Land parcels — (1) — (1) Transitions (30) (17) — (47) Other — (2) — (2) Stabili
Slide 23: Glossary
Glossary EBITDA Net income attributable to CareTrust REIT, Inc. before interest expense, income tax, depreciation and amortization and amortization of stock-based compensation.[1] EBITDAR Net income before interest expense, income tax, depreciation, amortization and cash rent, after applying a stand
Slide 24: Glossary (continued)
Glossary (continued) Revenues Revenues represents the respective period's contractual cash rent or interest income, annualized, and presented at 100% share for consolidated entities, and excludes ground lease income and the impact of any rent abatement for recent acquisitions, if applicable. Rent de