CareTrust is a triple-net healthcare landlord: it owns ~577 skilled-nursing homes and senior-living communities and leases them to operators like Ensign and PACS, who run the care and pay the rent. It never provides care itself — it collects long-lease rent plus interest on a growing book of loans, and after a $1.8B buying spree and a UK entry in 2025, revenue more than doubled.
What CareTrust REIT, Inc. really sells
CareTrust is a triple-net healthcare landlord: it owns ~577 skilled-nursing homes and senior-living communities and leases them to operators like Ensign and PACS, who run the care and pay the rent. It never provides care itself — it collects long-lease rent plus interest on a growing book of loans, and after a $1.8B buying spree and a UK entry in 2025, revenue more than doubled.