CareTrust REIT (CTRE) Investor presentation summary

Recent performance and financial highlights

• Normalized FFO per share grew 18% year-over-year, reaching $0.47 in Q4'25, with FY26 guidance of $1.90–$1.95 per share, a 9.4% increase at the midpoint over FY25.

• Over $1.8 billion in gross investments were made in 2025, with $3.3 billion deployed across 2024 and 2025, including the acquisition of 169 properties at an 8.6% blended stabilized yield.

• Net debt to EBITDA closed at 0.67x in 2025, with full revolver capacity, supporting future growth.

• Tenants delivered strong operational results, with 2.2x TTM EBITDAR and 2.8x TTM EBITDARM rent coverage as of September 2025.

• Achieved a 493% 10-year total shareholder return, the highest among healthcare REITs, and increased dividends every year for the past decade.

Growth strategy and market positioning

• Growth is driven by three engines: US skilled nursing, UK care homes, and US senior housing operating portfolios (SHOP), with significant investments and robust pipelines in each.

• The acquisition of Care REIT plc in the UK for $863.4 million expanded geographic reach and brought an experienced team, with further $132 million invested post-acquisition.

• SHOP investments began in Q4'25, diversifying asset classes and operator concentration.

• Less than 2% of the total addressable market is currently owned, indicating substantial room for expansion.

Portfolio quality and management

• Portfolio consists of high-quality, needs-based skilled nursing and senior housing assets in the US and UK, operated by over 40 providers across 32 US states and the UK.

• Rent coverage and clinical quality metrics consistently outperform peers, with a focus on operator selection and underwriting.

• Senior leadership brings over 60 years of healthcare real estate and operator experience, supporting disciplined investment and operational excellence.

• Diversification by tenant and geography has increased, reducing concentration risk.