CareTrust REIT launches 17 million share public offering

CareTrust REIT, a real estate investment trust specializing in healthcare-related properties, has announced the commencement of a public offering of 17 million shares of common stock. The company is expecting to sell these shares through forward sale agreements, with Bank of America, N.A. and Morgan Stanley acting as the primary underwriters.

Other underwriters include BofA Securities, Morgan Stanley, J.P. Morgan, and Wells Fargo Securities. The underwriters have the option to purchase up to an additional 2.55 million shares within a 30-day period. If they choose to exercise this option, the total offering could reach 19.55 million shares. The forward sale structure means that the purchasers or their affiliates will borrow shares from third parties and sell them to the underwriters, with CareTrust REIT not receiving proceeds initially.

The company anticipates settling these forward sale agreements within about a year from the prospectus supplement date. Following the settlement, CareTrust REIT plans to contribute the net proceeds to its operating subsidiary, CTR Partnership, L.P. The proceeds will be utilized for general corporate purposes, such as future acquisitions, investments, or debt repayment.

The offering's underlying documents were filed with the Securities and Exchange Commission on February 17, 2026. CareTrust REIT currently owns, develops, and leases skilled nursing, seniors housing, and other healthcare properties across the United States and the United Kingdom.