CareTrust REIT, Inc. — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 58/100
What the filing says
CareTrust reported Q2 2026 net income of $89.0M ($0.38/share, +9% YoY) and Normalized FFO of $119.7M ($0.51/share, +19% YoY). Year-to-date investments total $1.452B at 8.7% blended yield; Q2 alone saw $899.6M deployed at 8.9% yield. The company raised $578.2M via forward equity offering (unsettled) and $363.6M via ATM settlements. Full-year 2026 guidance raised: Normalized FFO midpoint $2.045/share (+16.2% vs 2025), Normalized FAD midpoint $2.025/share (+15.1% vs 2025), based on 233M diluted shares. Net Debt/Normalized EBITDA improved to 1.01x from 1.96x prior year.
Why this rating
Strong earnings growth (+19% FFO/share YoY) and raised full-year guidance support momentum. However, $1.5B YTD investment and $1.2B debt at $6.1B market cap is material but not transformational—represents ~20% debt/cap. Equity dilution (234M shares vs 193M YoY) partially offsets per-share gains.
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