List of Publicly Traded Health Care and Senior Housing REITs Listed on Major U.S. Exchanges
A comprehensive data directory and research guide covering real estate investment trusts (REITs) specializing in hospitals, medical offices, skilled nursing, and senior living facilities.
Financial Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial or investment advice. Always conduct your own due diligence or consult with a licensed financial advisor before making any investment decisions.
The companies detailed on this list operate as Publicly Traded Health Care and Senior Housing REITs (Real Estate Investment Trusts). These specialized entities focus on acquiring, developing, managing, and leasing properties that are essential to the healthcare ecosystem and the rapidly expanding senior demographic. Supported by long-term macroeconomic tailwinds—such as the aging baby boomer population—these REITs offer exposure to critical infrastructure. Examples of the underlying real estate assets include:
- Acute Care Hospitals
- Assisted Living Facilities
- Behavioral Health Care Facilities
- Independent Living Facilities
- Medical Offices
- Memory Care Facilities
- Regional and Community Hospitals
- Specialty Hospitals
- Skilled Nursing Facilities
- Wellness Centers
While some established healthcare REITs maintain highly diversified portfolios covering multiple asset classes, it is equally common for mid-cap and small-cap trusts to specialize strictly in one sub-sector, such as pure-play medical office buildings or skilled nursing facilities. The majority of the market share is concentrated within the large-cap and mid-cap tiers.
Key Takeaways for Investors
Demographic Tailwinds
The sector is heavily supported by the "Silver Tsunami"—the aging of the Baby Boomer generation, which reliably drives long-term demand for senior housing, memory care, and specialized medical facilities.
High Yield Potential
Because REITs are legally required to distribute at least 90% of their taxable income to shareholders, healthcare REITs traditionally offer higher dividend yields compared to the broader equities market.
Tenant Operator Risk
A significant risk factor is operator health. Unlike traditional real estate, the profitability of healthcare facilities depends heavily on the financial stability of the operating tenant and their Medicare/Medicaid reimbursement rates.
Structural Diversity
Portfolios vary widely between pure Triple-Net Lease (NNN) structures—where tenants handle taxes, insurance, and maintenance—and Senior Housing Operating Portfolios (SHOP), which offer higher upside but more operational risk.
Understanding Healthcare REIT Lease Structures
When evaluating the companies on this list, it is critical to understand how they generate revenue. Most healthcare REITs operate using one of two primary property management structures, which directly impacts their risk and reward profile.
| Structure Type | How It Works | Upside / Benefit | Downside / Risk |
|---|---|---|---|
| Triple-Net Lease (NNN) | The REIT owns the building, but the tenant (operator) pays all operating expenses, taxes, insurance, and maintenance. | Highly predictable, stable cash flow with long-term leases (often 10-15 years). Minimal operational burden for the REIT. | Revenue is fixed by the lease. If the facility booms, the REIT doesn't share in the extra profit. Vulnerable to tenant bankruptcy. |
| SHOP (Senior Housing Operating Portfolio) | The REIT uses the RIDEA structure (REIT Investment Diversification and Empowerment Act) to hire a manager, directly participating in the facility's operations. | The REIT captures the upside if occupancy rates and resident fees rise. Excellent inflation hedge. | Higher volatility. The REIT is directly exposed to operating costs like nursing labor shortages, insurance hikes, and occupancy drops. |
| Medical Office Buildings (MOBs) | Traditional multi-tenant commercial leases designed specifically for doctors, clinics, and outpatient services. | Very high tenant retention rates. Doctors rarely relocate due to the high cost of moving specialized medical equipment. | Requires active property management and ongoing capital expenditures (CapEx) to keep the building modernized. |
Directory of Healthcare and Senior Housing REITs
Additional publicly traded real estate companies, REITs and real estate categories can be accessed through the links below:
List of Publicly Traded Real Estate Companies
List of Publicly Traded REITs
A comparison widget that shows trend, earnings per share (EPS), P/E ratio and beta for each of the companies on this list can be accessed through the link below.
Healthcare and Senior Housing REIT Industry Comparison Widget
Select the company’s link to access charts, news links and company website and social media information.
Healthcare and Senior Housing REITs: Large-Cap Stocks
HCP, Inc. (HCP) (Hospitals, life science, medical office, post-acute/skilled nursing and senior housing)
Ventas, Inc. (VTR) (Seniors housing, skilled nursing facilities, medical office buildings and other healthcare properties)
Welltower Inc. (WELL) (Seniors housing and health care real estate)
Healthcare and Senior Housing REITs: Mid-Cap Stocks
Healthcare Realty Trust Incorporated (HR) (Outpatient medical facilities)
Healthcare Trust of America, Inc. (HTA) (Medical office buildings)
Medical Properties Trust, Inc. (MPW) (Ambulatory surgery centers, long-term acute care hospitals, regional and community hospitals, rehabilitation hospitals and women’s and children’s hospitals)
National Health Investors, Inc. (NHI) (Assisted and memory care communities, medical office buildings, specialty hospitals and skilled nursing facilities)
Omega Healthcare Investors, Inc. (OHI) (Skilled nursing facilities)
Physicians Realty Trust (DOC) (Medical office buildings, outpatient care facilities and specialized hospitals)
Senior Housing Properties Trust (SNH) (Continuing care retirement communities, independent living and assisted living communities, medical offices, nursing homes)
Healthcare and Senior Housing REITs: Small-Cap Stocks
CareTrust REIT, Inc. (CTRE) (Assisted living, independent living, memory care, skilled nursing)
LTC Properties, Inc. (LTC) (Seniors housing, assisted living, memory care and skilled nursing properties)
MedEquities Realty Trust, Inc. (MRT) (IPO September 29, 2016: healthcare facilities)
New Senior Investment Group Inc. (SNR) (Independent living properties and assisted living/memory care properties)
Quality Care Properties, Inc. (QCP) (Post-acute/skilled nursing and memory care/assisted living properties)
Sabra Healthcare REIT, Inc. (SBRA) (Assisted living, independent living, memory care and skilled nursing and transitional care facilities)
Universal Health Realty Income Trust (UHT) (Acute care hospitals, behavioral healthcare facilities, childcare centers, medical office buildings, rehabilitation hospitals and sub-acute care facilities)
Micro-Cap Stocks
Community Healthcare Trust (CHCT) (IPO in May 2015: smaller healthcare facilities)
Global Medical REIT Inc. (GMRE) (IPO June 29, 2016: REIT, healthcare facilities)
Related Links:
List of Healthcare Facilities
Publicly Traded Companies by Sector and Industry
Investment Risks & Considerations
Investing in publicly traded healthcare and senior housing REITs involves specific industry risks that differ from general commercial or residential real estate. Foremost among these is Interest Rate Sensitivity. Like all REITs, healthcare trusts rely on debt to finance property acquisitions. In a rising interest rate environment, borrowing costs increase, which can compress profit margins and make high-yield dividend stocks less attractive compared to risk-free treasury bonds.
Another major factor is Operator and Tenant Risk. Unlike an apartment building with hundreds of individual renters, a healthcare REIT often leases an entire facility to a single corporate operator (e.g., a skilled nursing company). If that operating tenant faces financial distress, declining occupancy, or bankruptcy, the REIT’s cash flow can be severely disrupted. Historical precedents, such as the struggles of major nursing operators in the late 2010s, highlight the danger of high tenant concentration.
Finally, the sector is heavily exposed to Regulatory and Government Reimbursement Risk. Facilities like skilled nursing and hospitals rely heavily on Medicare and Medicaid payments. Unfavorable shifts in federal or state healthcare policy, cuts to reimbursement rates, or stricter regulatory oversight can directly impact the profitability of the tenant operators, thereby threatening their ability to pay rent to the REIT.
Frequently Asked Questions
A Healthcare REIT (Real Estate Investment Trust) is a publicly traded company that owns, manages, and often develops real estate utilized specifically by the healthcare industry. Instead of owning apartments or malls, they own hospitals, medical office buildings (MOBs), life science labs, and senior housing communities, generating revenue by leasing these properties to medical operators.
Investors typically buy these stocks for a combination of income and long-term demographic growth. Because REITs must pay out 90% of their taxable income as dividends, they often provide attractive yields. Additionally, the aging U.S. population creates a secular, long-term demand curve for senior housing and medical care that is relatively resistant to standard economic recessions.
An MOB (Medical Office Building) houses outpatient services, doctors' offices, and clinics; these typically boast high tenant retention and lower operating risks. A Skilled Nursing Facility (SNF) provides 24/7 medical care and rehabilitation services, which carries higher operational risk and heavy reliance on government Medicare/Medicaid reimbursements.
While historically steady, no dividend is entirely risk-free. The safety of a Healthcare REIT's dividend depends on its payout ratio, the strength of its balance sheet, and the financial health of its tenant operators. Investors should monitor FFO (Funds From Operations) and AFFO (Adjusted Funds From Operations) to assess dividend sustainability rather than just looking at traditional earnings.
REITs are generally sensitive to interest rate hikes. Higher rates increase the cost of borrowing for property acquisitions. Furthermore, when interest rates rise, safer investments like government bonds offer higher yields, which can cause investors to rotate out of dividend-paying stocks like REITs, potentially putting downward pressure on share prices.
RIDEA stands for the REIT Investment Diversification and Empowerment Act. It allows REITs to participate directly in the operational income of healthcare facilities rather than just collecting fixed rent. Under this structure (often called SHOP), the REIT shares in both the upside of high occupancy/profits and the downside of rising operational costs.