Sabra Healthcare Reit ( (SBRA) ) has released its Q3 earnings. Here is a breakdown of the information Sabra Healthcare Reit presented to its investors.
Sabra Health Care REIT, Inc. is a real estate investment trust that primarily invests in healthcare properties, including skilled nursing facilities, senior housing communities, behavioral health facilities, and specialty hospitals, across the United States and Canada.
Sabra’s third quarter 2024 earnings report highlights a solid financial performance, with notable acquisitions and dispositions enhancing its portfolio. The company announced a quarterly cash dividend and updated its earnings guidance for the year.
Key financial metrics include a net income of $0.13 per diluted share, with funds from operations (FFO) at $0.34 per share, and adjusted funds from operations (AFFO) at $0.36 per share. The company completed acquisitions worth $75.8 million and $24.0 million, yielding initial cash returns of 8.1% and 8.6%, respectively. Additionally, it disposed of four skilled nursing facilities for $34.9 million with a cash yield of 4.0%.
Sabra’s updated 2024 guidance reflects a slight increase in FFO and AFFO expectations, indicating steady growth. The company’s management anticipates continued improvement in occupancy and margins within its skilled nursing and senior housing sectors, supported by a robust investment pipeline.
Looking forward, Sabra is poised for continued growth, leveraging its strategic investments and strong financial position, while maintaining a focus on optimizing its healthcare real estate portfolio.
