Sabra Healthcare REIT (SBRA)
NASDAQ:SBRA
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Earnings Data
Report Date
Aug 10, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.17Last Year’s EPS
0.27Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong and accelerating SHOP deal flow and operating performance (notably robust same-store revenue, occupancy, RevPAR, and NOI growth), record private-pay concentration, healthy FFO/AFFO growth, solid liquidity, and disciplined capital use (forward equity locks). Key negatives are limited and include certain asset transitions (Holiday assets), legal/sale process for Landmark behavioral assets, a highly competitive skilled nursing acquisition market that limits SNF opportunities, modest increases in G&A and the reaffirmation of guidance (conservative stance) with a plan to reassess in Q2. On balance, the positive operating trends, material pipeline, and balance-sheet flexibility outweigh the risks and uncertainties discussed.Company Guidance
Robust Deal Flow and Investment Activity
Company reported strong pipeline and deal flow: stated $400 million closed or awarded year-to-date; invested $102 million in Q1 and an additional $14.1 million subsequent to quarter end (management referenced roughly $206 million of year-to-date investments), with another $107 million of awarded managed senior housing and $94 million of awarded skilled nursing expected to close mostly in Q2, and an active $690 million of additional managed senior housing opportunities being pursued.
Managed Senior Housing Sequential Operating Strength
Total managed senior housing portfolio (including non-stabilized and JV share) produced sequential revenue growth of 7.2%, cash NOI growth of 9.5%, and margin expansion of 60 basis points.
Same-Store SHOP Year-over-Year Outperformance
Same-store managed senior housing revenue grew 7.9% YoY; occupancy rose 280 basis points YoY to 88.4% (domestic 85.6%, Canada 93.4%); RevPAR increased 4.6% YoY (Canada +6.5%); expense per occupied room rose only 1.8% YoY; resulting in cash NOI growth of 14.4% YoY.
FFO / AFFO Growth
Q1 normalized FFO per share was $0.38 (+9% YoY) and normalized AFFO per share was $0.39 (+5% YoY); in absolute terms normalized FFO totaled $96.1 million and normalized AFFO totaled $100.6 million.
Private-Pay Mix Milestone
For the first time in company history private-pay concentration reached 50% of the portfolio, a material strategic shift toward higher private-pay exposure.
Improving Triple-Net and Consolidated Cash NOI
Cash NOI from triple-net portfolio increased $2.2 million sequentially; managed senior housing cash NOI was $39.0 million this quarter versus $35.6 million last quarter (a $3.4 million increase), reflecting investment activity and same-store growth.
Strong Liquidity and Proactive Capital Management
Reported liquidity of approximately $1.2 billion (unrestricted cash $117 million, $645 million available on revolving credit facility, $451 million outstanding under forward sales agreements, plus $353 million available under ATM). Issued $128 million on a forward basis at an average price of $20.19 per share and have $451 million outstanding under forward contracts at an average price of $19.03 per share.
Healthy Balance Sheet Metrics and Low Fixed-Rate Cost
Net debt to adjusted EBITDA was 5.04x as of 03/31/2026 (in line with target). Cost of permanent debt averaged 3.92% with a weighted average remaining term of ~4 years and the next material maturity in 2028; no floating-rate permanent debt exposure.
Dividend Declared with Coverage
Board declared quarterly cash dividend of $0.30 per share to be paid 05/29/2026; dividend is covered at 77% of first-quarter normalized AFFO per share.
SBRA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SBRA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $20.35 | $20.66 | +1.52% |
Feb 12, 2026 | $19.95 | $20.17 | +1.10% |
Nov 05, 2025 | $17.64 | $18.27 | +3.58% |
Aug 04, 2025 | $17.55 | $17.34 | -1.25% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Sabra Healthcare REIT (SBRA) report earnings?
Sabra Healthcare REIT (SBRA) is schdueled to report earning on Aug 10, 2026, TBA (Confirmed).
What is Sabra Healthcare REIT (SBRA) earnings time?
Sabra Healthcare REIT (SBRA) earnings time is at Aug 10, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBRA EPS forecast?
SBRA EPS forecast for the fiscal quarter 2026 (Q2) is 0.17.