SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2025

(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.