SEGMENT REPORTING

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

The Company represents a single reportable segment, based on how its chief operating decision maker (“CODM”) evaluates the businesses and allocates resources. The CODM assesses performance for the Company and decides how to allocate resources based on consolidated net income that is also reported on the condensed consolidated income statements. The CODM does not review segment assets at a different asset level or category than the amounts disclosed in the condensed consolidated balance sheets. The CODM uses net income to evaluate the performance of the Company in deciding whether to reinvest profits into the Company.

The CODM evaluates performance based on net income, as follows (in thousands):

	For the Three Months Ended March 31,
	2025		2024
Revenues:
Rental income	$	71,646	$	53,502
Interest income from financing receivable	2,807		—
Interest income from other real estate related investments and other income	22,168		9,568
Total revenues	96,621		63,070
Expenses:
Depreciation and amortization	17,841		13,448
Interest expense	6,669		8,228
Property taxes	2,065		1,801
Impairment of real estate investments	—		2,744
Transaction costs	888		—
Property operating expenses	105		660
General and administrative
Cash compensation	2,090		1,765
Incentive compensation	1,225		1,500
Share-based compensation	3,909		2,120
Professional services	876		738
Taxes and insurance	218		205
Other expenses(1)	705		510
Total general and administrative	9,023		6,838
Total expenses	36,591		33,719
Other income (loss):
Gain on sale of real estate, net	3,876		11
Unrealized gain (loss) on other real estate related investments, net	1,287		(612)
Total other income (loss)	5,163		(601)
Net income	65,193		28,750
Net (loss) income attributable to noncontrolling interests	(609)		4
Net income attributable to CareTrust REIT, Inc.	$	65,802	$	28,746

(1)Other expenses include certain overhead expenses.