Sabra Health Care REIT, Inc.
17.23-0.52 (-2.93%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · SBRA · USD
Key Stats
Market Cap
4.13BP/E (TTM)
22.67Basic EPS (TTM)
0.76Dividend Yield
0.07%Recent Filings
8-K
Sabra launches $750M ATM program
Sabra Health Care REIT launched a new $750 million at-the-market equity program on August 5, 2025, via agreements with multiple agents and forward purchasers, enabling flexible sales of common stock. This replaces a prior $500 million program terminated the same day, with $109.3 million unsold and $266.5 million in outstanding forward agreements. Net proceeds will repay debt and fund investments. Forward settlements carry cash or share risks.
8-K
Sabra boosts senior housing investments
Sabra Health Care REIT reported Q2 2025 net income of $0.27 per diluted share, with FFO at $0.44 and Normalized AFFO at $0.38, fueled by 17.1% year-over-year same-store managed senior housing Cash NOI growth. The company invested $114.5 million in senior housing assets at 7.5-7.7% yields year-to-date, transitioned 21 properties to trusted operators with minimal disruption, and refinanced $500 million debt at a fixed 4.64% rate, saving on interest costs. Updated 2025 guidance projects Normalized AFFO of $1.49-$1.51. Leverage sits at 5.0x net debt to Adjusted EBITDA.
10-Q
Q2 FY2025 results
Sabra Health Care REIT posted solid Q2 2025 results, with total revenues climbing 7% year-over-year to $189.2 million, fueled by stronger resident fees from senior housing communities and steady rental income, while impairments dropped sharply to $4.1 million from $15.3 million. Net income surged to $65.5 million, or $0.27 per diluted share, up from $24.0 million last year, thanks to $10.0 million in gains from selling six facilities and $14.7 million in other income including insurance recoveries—yet comprehensive income dipped to $48.3 million amid $17.2 million in hedge losses. Acquisitions added one senior housing-managed property for $61.1 million, boosting the portfolio to 359 properties, while dispositions recycled $37.1 million in capital. Liquidity stands firm at $95.2 million in cash plus $837.0 million revolver availability, supporting $2.5 billion in total debt with no major maturities until 2026. Free cash flow hit $147.6 million for the half-year (derived). Portfolio quality improves steadily. Yet tenant reliance on Medicare reimbursements exposes results to policy shifts.
8-K
Sabra secures $500M term loan
Sabra Health Care REIT secured a $500 million unsecured term loan on July 30, 2025, maturing in 2030, with an accordion to expand to $1 billion. Forward-starting interest rate swaps fix the effective rate at 4.64%, replacing the redeemed $500 million 5.125% senior notes due 2026 at a 100.575% premium. This refinancing extends maturities and locks in lower rates, bolstering liquidity amid healthcare REIT pressures. Debt covenants remain intact.
8-K
Sabra redeems $500M notes
Sabra Health Care REIT's subsidiary announced the full redemption of its $500 million 5.125% Senior Notes due 2026 on July 31, 2025, at 100% of principal plus accrued interest and a make-whole premium. The company will fund this via a new $500 million term loan. Redemption simplifies debt structure. Yet, the make-whole premium adds a short-term cost.
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