SEGMENT REPORTING

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

The chief operating decision maker (“CODM”) is the President and Chief Executive Officer. The Company represents a single reportable segment, based on how its CODM evaluates the business 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 consolidated income statements. The CODM does not review segment assets at a different asset level or category than the amounts disclosed in the 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 (dollars in thousands):

	Year Ended December 31,
	2025		2024		2023
Revenues:
Rental income	$	368,194	$	228,261	$	198,599
Resident fees and services	1,225		—		—
Interest income from financing receivables	11,492		1,009		—
Interest income from other real estate related investments and other income	95,482		67,016		19,171
Total revenues	476,393		296,286		217,770
Expenses:
Depreciation and amortization	92,891		56,831		51,199
Interest expense	43,707		30,310		40,883
Property taxes	8,768		7,838		6,170
Senior housing operating expenses	952		—		—
Impairment of real estate investments	2,483		42,225		36,301
Transaction costs	5,329		1,326		—
Provision for loan losses	—		4,900		—
Property operating expenses	(138)		5,714		3,423
Cash Compensation	9,656		6,474		5,636
Incentive compensation	18,463		9,699		5,350
Share-based compensation	11,896		6,130		5,153
Professional services	5,942		2,785		2,399
Taxes and Insurance	1,934		1,019		908
Other expenses(1)	4,574		2,816		2,359
General and administrative	52,465		28,923		21,805
Total expenses	206,457		178,067		159,781
Other income (loss):
Other income, net	4,350		—		—
Loss on extinguishment of debt	(390)		(657)		—
Gain (loss) on sale of real estate, net	31,548		(2,208)		2,218
Unrealized gain (loss) on other real estate related investments, net	15,831		9,045		(6,485)
Gain on foreign currency transactions, net	4,012		—		—
Total other income (loss)	55,351		6,180		(4,267)
Income before income tax expense	325,287		124,399		53,722
Income tax expense	(5,001)		—		—
Net income	320,286		124,399		53,722
Net loss attributable to noncontrolling interests	(252)		(681)		(13)
Net income attributable to CareTrust REIT, Inc.	$	320,538	$	125,080	$	53,735

(1) Other expenses include certain overhead expenses.