SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2025

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


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2025		2024		2025		2024
Revenues:
Rental income	$	86,033	$	55,407	$	157,679	$	108,909


Interest income from financing receivable	2,886		—		5,693		—
Interest income from other real estate related investments and other income	23,550		13,484		45,718		23,052
Total revenues	112,469		68,891		209,090		131,961
Expenses:
Depreciation and amortization	21,215		13,860		39,056		27,308
Interest expense	13,038		8,679		19,707		16,907

Property taxes and insurance	2,117		1,976		4,182		3,777

Impairment of real estate investments	—		25,711		—		28,455
Transaction costs	61		—		949		—

Property operating expenses	938		255		1,043		915

General and administrative
Cash compensation	2,003		1,542		4,093		3,307
Incentive compensation	3,424		1,500		4,649		3,000
Share-based compensation	3,026		1,406		6,935		3,526
Professional services	2,453		628		3,329		1,366
Taxes and insurance	470		345		688		550
Other expenses(1)	1,173		715		1,878		1,225
Total general and administrative	12,549		6,136		21,572		12,974
Total expenses	49,918		56,617		86,509		90,336
Other income (loss):

Gain on sale of real estate, net	—		21		3,876		32

Unrealized gain (loss) on other real estate related investments, net	1,968		(1,877)		3,255		(2,489)
Gain on foreign currency transaction	4,413		—		4,413		—
Total other income (loss)	6,381		(1,856)		11,544		(2,457)
Income before income tax expense	68,932		10,418		134,125		39,168
Income tax expense	(1,030)		—		(1,030)		—
Net income	67,902		10,418		133,095		39,168
Net loss attributable to noncontrolling interests	(643)		(340)		(1,252)		(336)
Net income attributable to CareTrust REIT, Inc.	$	68,545	$	10,758	$	134,347	$	39,504

(1)Other expenses include certain overhead expenses.