The earnings call reflected strong growth in the SHOP portfolio, robust financial metrics, and a successful investment pipeline. However, challenges with the Holiday properties, decreased cash rental income, and increased borrowing costs were notable concerns. The overall sentiment is balanced with optimism about future growth.

Company Guidance

During Sabra Health Care REIT's Third Quarter 2025 Earnings Call, the company provided detailed guidance and performance metrics. The SHOP portfolio now makes up approximately 26% of Sabra's portfolio, surpassing their initial target of 20% to 30%, with a new target set to increase it to 40%. Cash NOI growth was reported at 15.9% excluding certain properties, and 13.3% including them. The company significantly exceeded its investment target, initially set at $400-500 million, as awarded and closed deals in 2025 totaled over $550 million. Occupancy in the managed senior housing portfolio increased to 86.8%, with RevPAR rising 4.3%. On a same-store basis, revenue grew 5.4% year-over-year, with Canadian communities seeing a 10.2% increase. The quarter's normalized FFO per share was $0.36, with AFFO per share at $0.38. Sabra reaffirmed its guidance midpoint for 2025, projecting normalized FFO and AFFO per share at $1.46 and $1.50, respectively. The company also noted a strong balance sheet, with a net debt to adjusted EBITDA ratio of 4.96x and ample liquidity of approximately $1.1 billion.

Growth in SHOP Portfolio

The SHOP portfolio grew to 26% of the total portfolio, exceeding expectations. A new target is set to increase SHOP exposure to 40%.

Strong Financial Metrics

Cash NOI growth was 15.9%, excluding 16 ex-Holiday properties, and 13.3% including them. EBITDAR rent coverage improved across asset classes.

Robust Investment Activity

Sabra exceeded its investment target of $400-$500 million, closing deals worth more than $550 million in 2025.

Senior Housing Portfolio Performance

Cash NOI and cash NOI margin were up 18.6% and 90 basis points, respectively. Occupancy increased to 86.8% with a RevPAR rise of 4.3%.

Credit Rating Upgrade

Moody’s upgraded Sabra’s credit rating to Baa3, reflecting a commitment to a strong balance sheet and anticipated future earnings growth.

Sabra Healthcare REIT (SBRA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SBRA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 24, 2026	2025 (Q4)	0.18 / -	0.19	―	―	―
Nov 05, 2025	2025 (Q3)	0.18 / 0.09	0.13	-30.77% (-0.04)
Aug 04, 2025	2025 (Q2)	0.17 / 0.27	0.1	170.00% (+0.17)
May 05, 2025	2025 (Q1)	0.17 / 0.17	0.11	54.55% (+0.06)
Feb 19, 2025	2024 (Q4)	0.16 / 0.19	0.07	171.43% (+0.12)
Oct 31, 2024	2024 (Q3)	0.16 / 0.13	-0.07	285.71% (+0.20)
Aug 07, 2024	2024 (Q2)	0.15 / 0.10	0.09	11.11% (+0.01)
May 08, 2024	2024 (Q1)	0.14 / 0.11	-0.04	375.00% (+0.15)
Feb 27, 2024	2023 (Q4)	0.14 / 0.07	-0.37	118.92% (+0.44)
Nov 06, 2023	2023 (Q3)	0.13 / -0.07	-0.22	68.18% (+0.15)

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
Nov 05, 2025	$18.20	$18.85	+3.57%
Aug 04, 2025	$18.11	$17.88	-1.27%
May 05, 2025	$16.71	$17.30	+3.53%
Feb 19, 2025	$16.00	$15.85	-0.94%

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 Feb 24, 2026, TBA (Confirmed).

What is Sabra Healthcare REIT (SBRA) earnings time?

Sabra Healthcare REIT (SBRA) earnings time is at Feb 24, 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 2025 (Q4) is 0.18.

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