Earnings summaries and quarterly performance for Sabra Health Care REIT.
Executive leadership at Sabra Health Care REIT.
Richard K. Matros
Detailed
Chief Executive Officer and President
CEO
DS
Darrin Smith
Detailed
Executive Vice President—Investments (Chief Investment Officer effective January 1, 2026)
ML
Michael L. Costa
Detailed
Chief Financial Officer, Secretary and Executive Vice President
TN
Talya Nevo-Hacohen
Detailed
Chief Investment Officer, Treasurer and Executive Vice President
Board of directors at Sabra Health Care REIT.
Research analysts who have asked questions during Sabra Health Care REIT earnings calls.
AW
Austin Wurschmidt
KeyBanc Capital Markets Inc.
8 questions for SBRA
Also covers: AHR, AIV, AMH +20 more
Michael Stroyeck
Green Street Advisors, LLC
7 questions for SBRA
Also covers: AHR, CTRE, DOC +4 more
OO
Omotayo Okusanya
Deutsche Bank AG
7 questions for SBRA
Also covers: AMH, ARE, AVB +43 more
Alec Feygin
Robert W. Baird & Co. Incorporated
6 questions for SBRA
Also covers: CTRE, FCPT, GMRE +6 more
FG
Farrell Granath
Bank of America
6 questions for SBRA
Also covers: ADC, AHR, ARE +15 more
Seth Bergey
Citi
6 questions for SBRA
Also covers: AHR, BDN, BXP +16 more
Elmer Chang
Scotiabank
5 questions for SBRA
Also covers: NTST, O, OHI +1 more
John Kilichowski
Wells Fargo & Company
5 questions for SBRA
Also covers: ADC, CTRE, EPR +17 more
Juan Sanabria
BMO Capital Markets
5 questions for SBRA
Also covers: AHR, AMH, BRX +22 more
VM
Vikram Malhotra
Mizuho Financial Group, Inc.
4 questions for SBRA
Also covers: ALX, ARE, BXP +19 more
RA
Richard Anderson
Wedbush Securities
3 questions for SBRA
Also covers: AIV, ARE, AVB +25 more
Michael Goldsmith
UBS
2 questions for SBRA
Also covers: ADC, AHR, AMH +39 more
Michael Griffin
Citigroup Inc.
2 questions for SBRA
Also covers: AHR, ALX, ARE +35 more
Rich Anderson
Cantor Fitzgerald
2 questions for SBRA
Also covers: ARE, CDP, CPT +11 more
Aaron Hecht
JMP Securities LLC
1 question for SBRA
AF
Alex Fagan
Robert W. Baird & Co. Incorporated
1 question for SBRA
Also covers: AHR, NNN, OHI +1 more
GD
Georgi Dinkov
Mizuho
1 question for SBRA
Also covers: ARE, DLR, MPW +2 more
John Pawlowski
Green Street
1 question for SBRA
Also covers: AIV, AMH, AVB +15 more
WJ
William John Kilichowski
Wells Fargo
1 question for SBRA
Also covers: ADC, CTRE, EPR +14 more
Recent press releases and 8-K filings for SBRA.
Sabra Health Care REIT Announces Q4 2025 Results and Provides 2026 Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT reported normalized FFO per share of $0.36 and normalized AFFO per share of $0.38 for Q4 2025.
- For full-year 2026, the company provided guidance of normalized FFO per share between $1.49 and $1.53 and normalized AFFO per share between $1.55 and $1.59, representing an approximate 5% increase over 2025 at the midpoint.
- Investment activity for 2025 totaled approximately $450 million, and Sabra is set to close $240 million in awarded deals in Q1 and early Q2 2026, expecting to materially exceed 2025 investment volume.
- The same-store managed senior housing portfolio showed strong operational performance in Q4 2025, with revenue growth of 6.4% year-over-year, occupancy increasing 160 basis points to 87.9%, and Cash NOI growth of 12.6% year-over-year.
- As of December 31, 2025, the company maintained a net debt to adjusted EBITDA ratio of 5.00 times and declared a quarterly cash dividend of $0.30 per common share.
Feb 13, 2026, 7:00 PM
Sabra Health Care REIT Reports Q4 2025 Results and Issues 2026 Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT reported Q4 2025 normalized FFO per share of $0.36 and normalized AFFO per share of $0.38.
- The company provided 2026 guidance for normalized FFO per share of $1.49-$1.53 and normalized AFFO per share of $1.55-$1.59, representing an approximate 5% increase over 2025 at the midpoint.
- In Q4 2025, the same-store managed senior housing portfolio achieved 12.6% year-over-year cash NOI growth and saw occupancy increase by 160 basis points to 87.9%.
- Sabra completed approximately $450 million in investments for 2025 and expects to materially exceed this volume in 2026, with $240 million of awarded deals anticipated to close in Q1 and early Q2.
- A quarterly cash dividend of $0.30 per common share was declared, representing a 79% payout of Q4 normalized AFFO per share.
Feb 13, 2026, 7:00 PM
Sabra Health Care REIT Reports Q4 2025 Results and Issues 2026 Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
Dividends
- Sabra Health Care REIT reported Normalized FFO per share of $0.36 and Normalized AFFO per share of $0.38 for Q4 2025.
- The company issued 2026 guidance, projecting Normalized FFO per share of $1.49-$1.53 and Normalized AFFO per share of $1.55-$1.59, with both metrics expected to increase approximately 5% over 2025 at the midpoint.
- Sabra completed approximately $450 million in investments for 2025 and anticipates materially exceeding this volume in 2026, with $240 million of awarded deals set to close in Q1 and early Q2 2026.
- The managed senior housing portfolio demonstrated strong Q4 2025 operational performance, with sequential revenue growth of 15.8% and cash NOI growth of 18.4%, alongside a year-over-year same-store occupancy increase of 160 basis points to 87.9%.
- As of December 31, 2025, the company maintained a net debt to adjusted EBITDA ratio of 5.00 times and reported approximately $1.2 billion in liquidity. A quarterly cash dividend of $0.30 per common share was declared.
Feb 13, 2026, 7:00 PM
Sabra Health Care REIT Initiates 2026 Guidance and Reports Q4 2025 Portfolio and Financials
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT initiated 2026 guidance with Normalized FFO and Normalized AFFO midpoints implying approximately 5% year-over-year growth.
- As of December 31, 2025, the company's portfolio included 393 investments and 61 relationships with a weighted average remaining lease term of 7 years.
- The company maintains a strong balance sheet with $1.2 billion in liquidity, a weighted average effective interest rate on permanent debt of 3.92%, and no material debt maturities until 2028.
- For Q4 2025, key credit metrics were a Net Debt to Adjusted EBITDA of 5.00x and an Interest Coverage Ratio of 4.72x.
- The company's strategy emphasizes unique, accretive investments and portfolio optimization, supported by a projected 4% annual growth in the over 80 population through 2040.
Feb 13, 2026, 7:00 PM
Sabra Health Care REIT, Inc. Reports Q4 2025 Results and Provides 2026 Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT, Inc. reported Q4 2025 Net Income of $0.11, FFO of $0.36, Normalized FFO of $0.36, AFFO of $0.37, and Normalized AFFO of $0.38 per diluted common share.
- For 2026, the company initiated guidance ranges per diluted common share, projecting Net Income between $0.60 and $0.64, FFO and Normalized FFO between $1.49 and $1.53, and AFFO and Normalized AFFO between $1.55 and $1.59. The midpoint of Normalized FFO and Normalized AFFO guidance implies approximately 5% year-over-year growth.
- A quarterly cash dividend of $0.30 per share was declared on February 2, 2026.
- In Q4 2025, Sabra acquired four managed senior housing properties for $150.5 million and has been awarded an additional $240 million in investments, primarily managed senior housing, expected to close in Q1 and early Q2 2026.
- As of December 31, 2025, the company reported approximately $1.2 billion in liquidity and a Net Debt to Adjusted EBITDA of 5.00x.
Feb 12, 2026, 9:05 PM
Sabra Health Care REIT Reports Q3 2025 Results and Updates Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT reported Q3 2025 normalized FFO per share of $0.36 and normalized AFFO per share of $0.38. Year-to-date through September 30, normalized FFO per share increased 5% and normalized AFFO per share increased 4% over the same period in 2024.
- The managed senior housing (SHOP) portfolio showed strong performance in Q3 2025, with same-store cash NOI growth of 15.9% (excluding 16 ex-Holiday properties) and 13.3% (including them). Same store occupancy increased 110 basis points to 86%. The company raised its target for SHOP exposure from 26% to 40% of its portfolio.
- Investment activity in Q3 2025 included $237 million in managed senior housing, with an additional $124 million awarded that closed post-quarter. Total closed and awarded deals for 2025 exceed $550 million, surpassing the original target. The current pipeline is heavily weighted towards SHOP, comprising 90-95% of opportunities.
- Sabra reaffirmed its 2025 earnings guidance, maintaining the implied midpoint for normalized FFO at $1.46 per share and normalized AFFO at $1.50 per share. The full-year average same-store cash NOI growth for the managed senior housing portfolio is now expected to be in the mid-teens.
- The company's net debt-to-adjusted EBITDA ratio improved to 4.96 times as of September 30, 2025. Moody's upgraded Sabra's credit rating to Baa3 during the quarter. A quarterly cash dividend of $0.30 per share was declared, representing a payout of 79% of Q3 normalized AFFO per share.
Nov 6, 2025, 6:00 PM
Sabra Health Care REIT Updates 2025 Full-Year Guidance and Reports Q3 2025 Financials
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT, Inc. (SBRA) updated its 2025 full-year guidance, projecting Normalized AFFO between $1.495 and $1.505 per diluted common share, which implies 4% year-over-year growth at the midpoint.
- As of September 30, 2025, the company reported a strong financial position with approximately $1.1 billion in liquidity, a weighted average debt maturity of approximately 4 years (with no material maturities until 2028), and 98% of borrowings unsecured.
- The portfolio, as of September 30, 2025, comprises 49% Skilled Nursing, 17% Senior Housing, and 34% Other based on Annualized Cash NOI. It includes 397 investments across 60 relationships , with SNF EBITDARM Coverage of 2.35x and SH EBITDARM Coverage of 1.52x.
Nov 6, 2025, 6:00 PM
Sabra Health Care REIT, Inc. Reports Q3 2025 Results and Updates 2025 Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT, Inc. reported Q3 2025 results including Net Income of $0.09, FFO of $0.33, and Normalized AFFO of $0.38 per diluted common share.
- The company updated its 2025 earnings guidance, with Normalized AFFO now projected to be between $1.495 and $1.505 per diluted common share.
- Same store managed senior housing Cash NOI increased 13.3% on a year-over-year basis in Q3 2025, and Net Debt to Adjusted EBITDA was 4.96x as of September 30, 2025.
- Sabra acquired six managed senior housing properties for $217.5 million in Q3 2025, bringing total investments closed year-to-date to $421.9 million.
- Moody's upgraded Sabra's senior unsecured notes rating to "Baa3" from "Ba1" on September 10, 2025, and assigned a "Baa3" issuer rating with a Stable outlook.
Nov 5, 2025, 9:06 PM
Sabra Health Care REIT Reports Q3 2025 Results and Updates 2025 Guidance
SBRA
Earnings
Guidance Update
New Projects/Investments
- Sabra Health Care REIT reported Q3 2025 results including Net Income of $0.09, FFO of $0.33, Normalized FFO of $0.36, AFFO of $0.37, and Normalized AFFO of $0.38 per diluted common share.
- The company updated its 2025 earnings guidance, projecting Normalized FFO between $1.455 and $1.465 and Normalized AFFO between $1.495 and $1.505 per diluted common share.
- Same store managed senior housing Cash NOI increased 13.3% on a year-over-year basis in Q3 2025, with total investments closed year-to-date reaching $421.9 million.
- As of September 30, 2025, Sabra reported approximately $1.1 billion of liquidity and a Net Debt to Adjusted EBITDA of 4.96x.
- Moody's Ratings upgraded Sabra's senior unsecured notes rating to "Baa3" from "Ba1" on September 10, 2025, and a quarterly cash dividend of $0.30 per share was declared on November 5, 2025.
Nov 5, 2025, 9:05 PM
Quarterly earnings call transcripts for Sabra Health Care REIT.
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