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Sabra Healthcare REIT increased the midpoint of its 2026 normalized FFO and AFFO guidance by half a penny, implying year-over-year per-share growth of 7% for normalized FFO and 8% for normalized AFFO.
Sabra Health Care REIT, Inc. received $200.0 million in full satisfaction of a $300.0 million Recovery Centers of America mortgage loan, resulting in a $100.0 million write-off and a $104.6 million provision for loan losses.
Sabra Health Care REIT, Inc. reported third-quarter 2026 Normalized AFFO of $0.41 per diluted common share, acquired seven SHOP communities for $222.8 million at a 7.7% estimated yield, and was awarded $425 million of investments at a 7.0% estimated yield.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Sabra delivered strong same-store senior housing Cash NOI growth of 13.7% and reiterated its 2026 guidance (midpoints imply ~7% NFFO and ~8% NAFFO growth), while closing $599M YTD in investments at a 7.5% initial yield with another $100M awarded. Leverage dropped sharply to 4.61x and the company paid a $0.30 quarterly dividend, though a $102.4M provision for loan losses on the RCA discounted payoff drove a GAAP net loss.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | 131.94M | three months ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income -$25.25M
+$29.78M Interest
+$678K Income tax expense
+$56.38M Depreciation and amortization
-$2.22M Income from unconsolidated joint ventures
+$2.09M Distributions from unconsolidated joint ventures
+$4.09M Stock-based compensation expense
+$631K Acquisition and transaction costs
+$100.72M Provision for loan losses and other reserves
+$2.76M Other expense
-$37.72M Net gain on sales of real estate
= Adjusted EBITDA $131.94M
|
|||
| Adjusted EBITDA, as adjusted non-GAAP | 130.84M | three months ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Adjusted EBITDA $131.94M
-$1.1M Adjustments for current period activity
= Adjusted EBITDA, as adjusted $130.84M
|
|||
| AFFO non-GAAP | $0.78 | six months ended June 30, 2026 | — |
| AFFO attributable to Sabra Health Care REIT, Inc. non-GAAP | $199.6M | six months ended June 30, 2026 | — |
| AFFO attributable to Sabra Health Care REIT, Inc. per diluted common share non-GAAP | $0.39 | the three months ended June 30, 2026 filing | — |
| AFFO per diluted common share non-GAAP | $0.78 | six months ended June 30, 2026 | — |
| Amount available under ATM program | $334.1M | as of June 30, 2026 | — |
| Ample liquidity | 1.3B | As of June 30, 2026 | — |
| Ancillary service revenue | $1.6M | the three months ended June 30, 2026 filing | — |
| Annualized Cash Net Operating Income - pro rata non-GAAP | 565.84M | Six Months Ended June 30, 2026 | — |
| Annualized Cash Net Operating Income, as adjusted - pro rata non-GAAP | 565.84M | Six Months Ended June 30, 2026 | — |
| Annualized Cash NOI (excluding loans receivable and other investments) non-GAAP | $554.25M | As of June 30, 2026 | — |
| Available borrowings under revolving credit facility | $682.5M | as of June 30, 2026 | — |
| Avamere annualized fixed cash rent | $48M | 2026 annualized | — |
| Average initial cash yield on Q2 2026 investments | 8.1% | second quarter of 2026 | — |
| Beds/units in real estate properties held for investment | 37,043 | as of June 30, 2026 | — |
| Borrowings that are unsecured | 98% | As of June 30, 2026 | — |
| Cash net operating income | 144.34M | Three Months Ended June 30, 2026 | — |
| Cash Net Operating Income - pro rata non-GAAP | 283.02M | Six Months Ended June 30, 2026 | — |
| Cash NOI | 40.07M | Three Months Ended June 30, 2026 | — |
| Common shares outstanding | 255.5M | As of June 30, 2026 | — |
| Consolidated Enterprise Value | 7.9B | June 30, 2026 | — |
| Cost of Permanent Consolidated Debt | 3.92% | June 30, 2026 | — |
| Debt as a % of Asset Value | 37% | As of June 30, 2026 | — |
| Estimated initial cash yield on investments closed (year-to-date) | 7.5% | Year-to-date 2026 | — |
| FFO non-GAAP | $0.35 | six months ended June 30, 2026 | — |
| FFO attributable to Sabra Health Care REIT, Inc. non-GAAP | $90.67M | six months ended June 30, 2026 | — |
| FFO attributable to Sabra Health Care REIT, Inc. per diluted common share non-GAAP | $0.35 | six months ended June 30, 2026 | — |
| Investment commitments closed in the second quarter | $274.1M | second quarter of 2026 | — |
| Investments | 395 | As of June 30, 2026 | — |
| Investments closed (year-to-date) | $599M | Year-to-date 2026 | — |
| Net Operating Income - pro rata non-GAAP | 288.26M | Six Months Ended June 30, 2026 | — |
| Net proceeds | $56.25M | Three Months Ended June 30, 2026 | — |
| Normalized AFFO non-GAAP | $0.79 | six months ended June 30, 2026 | — |
| Normalized AFFO attributable to Sabra Health Care REIT, Inc. non-GAAP | $203.4M | six months ended June 30, 2026 | — |
| Normalized AFFO per diluted common share non-GAAP | $0.79 | six months ended June 30, 2026 | — |
| Normalized FFO non-GAAP | $0.76 | six months ended June 30, 2026 | — |
| Normalized FFO attributable to Sabra Health Care REIT, Inc. non-GAAP | $193.98M | six months ended June 30, 2026 | — |
| Normalized FFO per diluted common share non-GAAP | $0.76 | six months ended June 30, 2026 | — |
| Real estate properties held for investment | 364 | as of June 30, 2026 | — |
| Relationships | 61 | As of June 30, 2026 | — |
| same property managed senior housing Cash NOI year-over-year increase non-GAAP | 13.7% | second quarter of 2026 | — |
| Secured Debt as a % of Asset Value | 1% | As of June 30, 2026 | — |
| Senior Housing - Managed number of properties | 94 | As of June 30, 2026 | — |
| Shares issued | 3,215,439 | Three Months Ended June 30, 2026 | — |
| Shares outstanding under forward sale agreements | 21.4M | as of June 30, 2026 | — |
| Shares sold via forward feature of ATM program | 0.9M | second quarter of 2026 | — |
| Team members self-identified as ethnic minorities | 34% | As of June 30, 2026 | — |
| Unencumbered Assets/Unsecured Debt | 265% | June 30, 2026 | — |
| Unrestricted cash and cash equivalents | $231.6M | as of June 30, 2026 | — |
| Weighted average debt maturity | 4 | As of June 30, 2026 | — |
| Weighted average effective interest rate on permanent debt | 3.92% | As of June 30, 2026 | — |
| Women share of management level/leadership roles | 58% | As of June 30, 2026 | — |
| Women share of workforce | 55% | As of June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SBRA
this stock
Sabra Health Care REIT, Inc.
|
$5.35B | +7.9% | +10.2% | 73.0 | 6.8% |
|
WELL
Welltower Inc.
|
$179.34B | +31.7% | +35.6% | 106.3 | 2.4% |
|
VTR
Ventas, Inc.
|
$47.02B | +14.9% | +18.5% | 167.8 | 2.8% |
|
OHI
Omega Healthcare Investors Inc
|
$14.32B | +6.1% | +13.2% | 18.9 | 4.8% |
|
DOC
Healthpeak Properties, Inc.
|
$13.78B | +24.3% | +4.5% | 37.0 | 3.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Sabra Health Care REIT, Inc. received $200.0 million in full satisfaction of a $300.0 million Recovery Centers of America mortgage loan, resulting in a $100.0 million write-off and a $104.6 million provision for loan losses.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SBRA | -2.8% | +5.7% | -1.7% | +3.6% | +7.9% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -5.4% | +6.9% | -2.2% | +3.7% | -2.7% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
