Slide 1: Financial Supplement Third Quarter 2025
Exhibit 99.2 Financial Supplement Third Quarter 2025
Slide 2: Disclaimers
Disclaimers This supplement contains forward-looking statements to renew their leases with us upon their expiration, and for GAAP financial information, and should recognize within the meaning of the Private Securities Litigation the ability to reposition our properties on the same or that non-GAAP
Slide 3: Table of Contents
Table of Contents COMPANY PROFILE 04 COMPANY SNAPSHOT 05 INVESTMENTS 06 PORTFOLIO OVERVIEW 07-14 Net-Leased Rent Coverage Portfolio Performance Rent Diversification by Tenant Total Revenue Diversification by Geography Lease Maturities Net-Leased Purchase Options Other Real Estate Investments Bayshir
Slide 4: Company Profile
Company Profile CareTrust REIT is a self-administered, publicly-traded real estate investment trust engaged in the ownership, MANAGEMENT EQUITY ANALYST COVERAGE* acquisition, development and leasing of skilled nursing, senior housing and Dave Sedgwick – Chief Executive Officer Baird - Wes Golladay |
Slide 5: Snapshot
Snapshot CARETRUST REIT, INC. NYSE: CTRE Market Data (as of September 30, 2025) Credit Ratings S&P Fitch ◦ Closing Price: $34.68 ◦ Corporate Rating: BB+ (stable) ◦ Corporate Rating: BBB- (stable) ◦ 52 Week Range: $35.18 – $24.79 ◦ Senior Unsecured Notes: BBB- ◦ Senior Unsecured Notes: BBB- ◦ Market
Slide 6: Historical Investments by Year
Historical Investments by Year (dollars in millions) 10 Year - Average Historical Investment Yield: 9.0% $1,800 $1,633 $1,524 $1,500 $1,200 $900 9.8% 9.7% $600 9.1% 9.0% 8.9% 8.8% 8.9% 9.0% 8.6% $341 7.7% $288 $309 $288 $300 $197 $169 $112 $105 $— 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 (Y
Slide 7: Net-Leased Rent Coverage
Net-Leased Rent Coverage[1] Trailing Twelve Months EBITDARM Rent Coverage Distribution as a % of Rent by Operator As of June 30, 2025 Operators Properties SNF SH UK CH Multi Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 <1.00x 0 0 —% —% —% —% —% —% —% —% —% 1.00-1.39x 3 19 —% 3% 2% —% 5% 10 % 10 % 9% 8% 1.40-1.79x
Slide 8: Portfolio Performance
Portfolio Performance (dollars in thousands) As of September 30, 2025 Operating % of Total Rent / % of Total Rent / Asset Type Properties Investment Current Yield Beds/Units Investment Interest Interest Investment in Real Estate Properties Skilled Nursing 200 21,465 $ 2,255,078 46.9 % $ 238,567 51.2
Slide 9: Rent Diversification by Tenant for Net-Leased Assets
Rent Diversification by Tenant for Net-Leased Assets (dollars in thousands) As of September 30, 2025[1] Operating Net-Leased Assets Beds/Units Rent % of Total Rent 1 The Ensign Group 113 12,216 $ 92,102 24.8 % 2 PACS Group 25 3,011 39,894 10.7 % 3 Priority Management Group 15 2,144 31,894 8.6 % 4 Mi
Slide 10: Total Revenue Diversification by Geography
Total Revenue Diversification by Geography (% of run-rate rent and interest) 7% 10 Note: Numbers are as of September 30, 2025 and include our net-leased assets and properties securing our financing receivable and other real estate related investments. Numbers exclude 8 properties held for sale as of
Slide 11: Total Revenue Diversification by Geography
Total Revenue Diversification by Geography (% of run-rate rent and interest) (dollars in thousands) As of September 30, 2025[1] Operating % of Total Rent/ Investments by Geography Properties Beds/Units Rent/Interest Interest 1 California 65 8,228 $ 91,061 19.5 % 2 United Kingdom 132 7,521 70,259 15.
Slide 12: Lease Maturities
Lease Maturities (dollars in thousands) As of September 30, 2025[1] Lease Maturity Year[2] Rent % of Total Rent 2027 $ 5,730 1.5 % 2030 1,330 0.4 % 2031 45,331 12.2 % 2032 27,622 7.4 % 2033 18,146 4.9 % 2034 40,129 10.8 % 2035 7,276 2.0 % 2036 15,185 4.1 % 2037 15,685 4.2 % 2038 33,831 9.1 % 2039 58
Slide 13: Purchase Options on Net-Leased Assets
Purchase Options on Net-Leased Assets (dollars in thousands) Tenant Purchase Options As of September 30, 2025 Option Period Asset Type Properties Lease Expiration Open Date Option Type[1] Current Cash Rent[2] % of Total Rent SNF 1 January 2030 2/1/2026 [3] A 1,200 0.32 % SNF / Campus 2 October 2032
Slide 14: Other Real Estate Investments
Other Real Estate Investments (dollars in thousands) As of September 30, 2025 Mortgage Loans Wtd Avg Contractual Maturity Year[1] Property Type Location Investment Interest Rate Interest TTM DSCR[3] 2025 SNF GA $ 29,600 9.1 % [2] $ 2,701 2.00x 2026 SH / SNF / UK Care Home CA, UK 30,705 9.2 % 2,835 1
Slide 15: Consolidated Income Statements
Consolidated Income Statements (amounts in thousands, except per share data) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2025 2024 2025 2024 Revenues: Rental income $ 104,265 $ 57,153 $ 261,944 $ 166,062 Interest income from financing receivable 2,908 — 8,601 — I
Slide 16: Reconciliation of EBITDA, FFO and FAD
Reconciliation of EBITDA, FFO and FAD Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended (amounts in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Net income attributable to CareTrust REIT, Inc. $ 33,441 $ 52,135 $ 65,802 $ 68,545
Slide 17: Reconciliation of EBITDA, FFO and FAD (continued)
Reconciliation of EBITDA, FFO and FAD (continued) Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended (amounts in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Net income attributable to CareTrust REIT, Inc. $ 33,441 $ 52,135 $ 65,8
Slide 18: Reconciliation of EBITDA, FFO and FAD (continued)
Reconciliation of EBITDA, FFO and FAD (continued) Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended (amounts in thousands, except per share data) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Net income attributable to CareTrust REIT, Inc. $
Slide 19: Consolidated Balance Sheets
Consolidated Balance Sheets (amounts in thousands) September 30, 2025 December 31, 2024 Assets: Real estate investments, net $ 3,271,982 $ 2,226,740 Financing receivable 98,054 96,004 Other real estate related investments 871,295 795,203 Assets held for sale, net 28,143 57,261 Cash and cash equivale
Slide 20: Key Debt Metrics
Key Debt Metrics Net Debt to Annualized Net Debt to Enterprise Value [2] Normalized Run Rate EBITDA [1] 3.8 3.8 [3] 26.2% 26.2% 2.5 [3] 2.0 16.8% 1.4 12.3% 9.5% 0.6 0.5 0.5 4.1% 2.6% 3.5% 2.9% 0.4 0.4 2.4% 0.1 0.4% 09 06 03 09 06 12 09 03 12 06 03 09 06 03 09 06 12 09 03 12 06 03 /31 /31 /31 /30 /30
Slide 21: Debt Summary
Debt Summary (dollars in thousands) September 30, 2025 Debt Interest Rate Maturity Date Principal % of Principal Fixed Rate Debt Senior unsecured notes payable 3.875 % 2028 $ 400,000 44.4 % Senior unsecured term loan 4.630 % [1] 2030 500,000 55.6 % 4.294 % $ 900,000 100.0 % Floating Rate Debt Unsecu
Slide 22: Debt Covenants
Debt Covenants September 30, 2025 Covenant Minimum Requirement Maximum Requirement Actual Status Credit Facility Covenants Consolidated Leverage Ratio 60 % 15.6 % In Compliance Consolidated Fixed Charge Coverage Ratio 1.50x 11.00x In Compliance Consolidated Tangible Net Worth ($ in thousands) 3,341,
Slide 23: 2025 Guidance
2025 Guidance Full Year 2025 Guidance[1] (shares in thousands) Low High Net income attributable to CareTrust REIT, Inc. $ 1.41 $ 1.42 Real estate related depreciation and amortization 0.44 0.44 Noncontrolling interests' share of real estate related depreciation and amortization (0.05) (0.05) (Gain)
Slide 24: Equity Capital Transactions
Equity Capital Transactions Follow-On Equity Offering Activity 2015 2016 2019 2024 2025 Number of Shares (000s) 16,330 16,100 6,641 15,870 23,000 Public Offering Price per Share $ 10.50 $ 12.14 [1] $ 23.35 $ 32.00 $ 32.00 Gross Proceeds (000s) $ 171,465 $ 195,385 $ 155,073 $ 507,840 $ 736,000 At-the
Slide 25: Other Financial Highlights
Other Financial Highlights Dividend History Normalized FFO Payout Ratio [1][2] $0.335 $0.335 $0.335 $0.28 $0.28 $0.28 $0.28 $0.29 $0.29 $0.29 $0.29 83% 81% 80% 80% 80% 78% 80% 78% 76% 74% 73% 03/ 06/ 09/ 12/ 03/ 06/ 09/ 12/ 03/ 06/ 09/ 03/ 06/ 09/ 12/ 03/ 06/ 09/ 12/ 03/ 06/ 09/ 31/ 31/ 31/ 31/ 3 3
Slide 26: Glossary
Glossary Care Homes ("UK Care Homes") master lease (or other grouping) for the trailing twelve- Initial Investment In the United Kingdom ("UK"), a care home is a residential months ending on the period presented divided by the Initial Investment for properties acquired in connection with setting tha
Slide 27: Glossary
Glossary Normalized FFO for residents requiring memory care as a result of Company’s ability to fund capital expenditures or make FFO attributable to CareTrust REIT, Inc, adjusted for certain Alzheimer’s disease or other forms of dementia. Levels of payments on its indebtedness. Further, the Company
Slide 28: CareTrust REIT
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