(CTRE) CareTrust REIT - Overview
Sector: Real Estate | Industry: REIT - Healthcare Facilities | Exchange: NYSE (USA) | Market Cap: 9.828m USD | Total Return: 49.6% in 12m
Industry Rotation: +7.0
Avg Turnover: 78.2M
EPS Trend: 68.7%
Qual. Beats: 0
Rev. Trend: 91.0%
Qual. Beats: 0
Warnings
Share dilution 19.5% YoY
Altman Z'' -0.06 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
CareTrust REIT, Inc. (NYSE: CTRE) is a self-administered real estate investment trust specializing in the acquisition, leasing, and financing of healthcare-related properties. Its portfolio is primarily comprised of skilled nursing facilities (SNFs) and senior housing communities operated by third-party tenants. As of late 2025, the company held interests in 407 properties across 32 U.S. states and the United Kingdom, supplemented by a portfolio of real estate loans and preferred equity investments.
The company operates under a triple-net lease structure, a common model in the healthcare REIT sector where the tenant assumes responsibility for property taxes, insurance, and maintenance costs. This model aims to provide the REIT with stable, long-term rental income while insulating it from daily operational expenses. The healthcare REIT sector is currently driven by demographic shifts, specifically the aging Baby Boomer population, which increases structural demand for long-term care beds and specialized medical facilities.
Investors can further examine these portfolio metrics and dividend sustainability by reviewing the detailed financial breakdowns on ValueRay. CareTrust’s geographic concentration is highest in California, the U.K., Texas, and Tennessee, reflecting a strategy of targeting markets with favorable regulatory environments or high demand density.
- Aggressive acquisition pipeline and property expansion drive rental income growth
- Medicare and Medicaid reimbursement rates impact operator rent coverage ratios
- Rising interest rates increase cost of capital for new development projects
- Operator concentration in California and Texas creates regional regulatory and economic risk
- Pivot toward real estate secured loans diversifies interest income streams
| Net Income: 334.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 1.03 > 1.0 |
| NWC/Revenue: 28.83% < 20% (prev 257.2%; Δ -228.4% < -1%) |
| CFO/TA 0.08 > 3% & CFO 413.0m > Net Income 334.9m |
| Net Debt (671.4m) to EBITDA (494.8m): 1.36 < 3 |
| Current Ratio: 1.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (224.0m) vs 12m ago 19.50% < -2% |
| Gross Margin: 86.83% > 18% (prev 0.95%; Δ 8.59k% > 0.5%) |
| Asset Turnover: 10.26% > 50% (prev 6.34%; Δ 3.92% > 0%) |
| Interest Coverage Ratio: 8.08 > 6 (EBITDA TTM 494.8m / Interest Expense TTM 48.3m) |
| A: 0.03 (Total Current Assets 330.2m - Total Current Liabilities 195.2m) / Total Assets 5.24b |
| B: -0.10 (Retained Earnings -500.0m / Total Assets 5.24b) |
| C: 0.09 (EBIT TTM 390.1m / Avg Total Assets 4.56b) |
| D: -0.47 (Book Value of Equity -506.7m / Total Liabilities 1.08b) |
| Altman-Z'' Score: -0.06 = B |
Over the past week, the price has changed by -1.11%, over one month by +3.55%, over three months by +1.12% and over the past year by +49.60%.
- StrongBuy: 6
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 43.7 | 6.1% |
P/E Forward = 21.322
P/S = 20.6292
P/B = 2.3786
P/EG = 1.26
Revenue TTM = 468.1m USD
EBIT TTM = 390.1m USD
EBITDA TTM = 494.8m USD
Long Term Debt = 894.2m USD (from longTermDebt, last fiscal year)
Short Term Debt = unknown (none)
Debt = 894.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 671.4m USD (from netDebt column, last quarter)
Enterprise Value = 10.50b USD (9.83b + Debt 894.6m - CCE 223.2m)
Interest Coverage Ratio = 8.08 (Ebit TTM 390.1m / Interest Expense TTM 48.3m)
EV/FCF = 26.23x (Enterprise Value 10.50b / FCF TTM 400.3m)
FCF Yield = 3.81% (FCF TTM 400.3m / Enterprise Value 10.50b)
FCF Margin = 85.51% (FCF TTM 400.3m / Revenue TTM 468.1m)
Net Margin = 71.55% (Net Income TTM 334.9m / Revenue TTM 468.1m)
Gross Margin = 86.83% ((Revenue TTM 468.1m - Cost of Revenue TTM 61.6m) / Revenue TTM)
Gross Margin QoQ = none% (prev 58.93%)
Tobins Q-Ratio = 2.00 (Enterprise Value 10.50b / Total Assets 5.24b)
Interest Expense / Debt = 1.26% (Interest Expense 11.2m / Debt 894.6m)
Taxrate = 2.78% (2.27m / 81.8m)
NOPAT = 379.3m (EBIT 390.1m * (1 - 2.78%))
Current Ratio = 1.69 (Total Current Assets 330.2m / Total Current Liabilities 195.2m)
Debt / Equity = 0.22 (Debt 894.6m / totalStockholderEquity, last quarter 4.13b)
Debt / EBITDA = 1.36 (Net Debt 671.4m / EBITDA 494.8m)
Debt / FCF = 1.68 (Net Debt 671.4m / FCF TTM 400.3m)
Total Stockholder Equity = 3.87b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.34% (Net Income 334.9m / Total Assets 5.24b)
RoE = 8.67% (Net Income TTM 334.9m / Total Stockholder Equity 3.87b)
RoCE = 8.20% (EBIT 390.1m / Capital Employed (Equity 3.87b + L.T.Debt 894.2m))
RoIC = 7.97% (NOPAT 379.3m / Invested Capital 4.76b)
WACC = 5.85% (E(9.83b)/V(10.72b) * Re(6.27%) + D(894.6m)/V(10.72b) * Rd(1.26%) * (1-Tc(0.03)))
Discount Rate = 6.27% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 100.0 | Cagr: 10.92%
[DCF] Terminal Value 88.44% ; FCFF base≈342.9m ; Y1≈423.1m ; Y5≈721.8m
[DCF] Fair Price = 85.79 (EV 20.94b - Net Debt 671.4m = Equity 20.27b / Shares 236.2m; r=6.0% [WACC]; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 68.66 | EPS CAGR: 15.48% | SUE: 0.08 | # QB: 0
Revenue Correlation: 90.97 | Revenue CAGR: 34.64% | SUE: 0.37 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.38 | Chg30d=-2.25% | Revisions=-20% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.41 | Chg30d=-4.38% | Revisions=-20% | Analysts=5
EPS current Year (2026-12-31): EPS=1.57 | Chg30d=-1.20% | Revisions=-20% | GrowthEPS=+15.4% | GrowthRev=+18.4%
EPS next Year (2027-12-31): EPS=1.70 | Chg30d=-1.14% | Revisions=-20% | GrowthEPS=+8.4% | GrowthRev=+15.6%
[Analyst] Revisions Ratio: -20%