Sabra Healthcare Reit (SBRA)
NASDAQ:SBRA
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Sabra Healthcare REIT
(NASDAQ:SBRA)
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Rating:68Neutral
Price Target:
$22.50
â–²(8.80% Upside)
Action:Downgraded
Date:05/29/26
The score is driven primarily by improving financial performance (revenue growth and a rebound to solid profitability) and a supportive earnings update highlighting strong SHOP operations and a robust investment pipeline. Offsetting these positives are moderate balance-sheet/cash-flow risk signals, neutral technical momentum, and a valuation mix of a strong dividend yield but a relatively high P/E.
Positive Factors
Restored Profitability & Revenue Growth
Sabra’s revenue and profitability have meaningfully recovered versus earlier losses, with stable TTM margins and positive net income. Durable revenue growth and restored margins enhance cash generation reliability for a REIT, supporting dividend coverage and reinvestment capacity over the medium term.
Negative Factors
Weak Cash-Flow-to-Debt Coverage
TTM cash-flow-to-debt near 0.29 indicates limited capacity to rapidly de-lever from operating cash flow alone. For a leverage-dependent REIT, this reduces buffer against shocks, may necessitate equity issuance or asset sales to fund growth, and constrains long-term financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Restored Profitability & Revenue Growth
Sabra’s revenue and profitability have meaningfully recovered versus earlier losses, with stable TTM margins and positive net income. Durable revenue growth and restored margins enhance cash generation reliability for a REIT, supporting dividend coverage and reinvestment capacity over the medium term.
Read all positive factors
Sabra Healthcare REIT (SBRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.16B
Dividend Yield6.47%
Average Volume (3M)2.19M
Price to Earnings (P/E)32.7
Beta (1Y)0.15
Revenue Growth13.50%
EPS Growth7.25%
CountryUS
Employees50
SectorReal Estate
Sector Strength53
IndustryREIT - Healthcare Facilities
Share Statistics
EPS (TTM)0.64
Shares Outstanding252,190,100
10 Day Avg. Volume2,025,769
30 Day Avg. Volume2,193,151
Financial Highlights & Ratios
PEG Ratio1.59
Price to Book (P/B)1.62
Price to Sales (P/S)5.90
P/FCF Ratio13.11
Enterprise Value/Market Cap1.49
Enterprise Value/Revenue9.45
Enterprise Value/Gross Profit14.89
Enterprise Value/Ebitda17.54
Forecast
1Y Price Target
$22.67Price Target Upside9.61% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.68
Revenue Forecast (FY)$899.84M
Sabra Healthcare REIT Business Overview & Revenue Model
Company Description
As of March 31, 2022, Sabra's investment portfolio included 416 real estate properties held for investment. This consists of (i) 279 Skilled Nursing/Transitional Care facilities, (ii) 59 Senior Housing communities (Senior Housing - Leased), (iii) ...
How the Company Makes Money
Sabra primarily makes money by owning healthcare properties and collecting contractual rent and related payments from third-party operators under lease agreements. A significant portion of its revenue is typically generated through long-term, trip...
Sabra Healthcare REIT Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
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.Positive Updates
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.
Negative Updates
SHOP Occupancy Volatility / Slight Sequential Dip
Management noted SHOP occupancy dipped slightly overall sequentially (the commentary attributed the movement to Canada volatility despite very strong YoY growth and Canada sitting at 93.4%), indicating some short-term occupancy variability in parts of the portfolio.
Read all updates
Q1-2026 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
Sabra reaffirmed its 2026 earnings guidance (to be revisited in Q2) after reporting Q1 normalized FFO per share of $0.38 and normalized AFFO per share of $0.39 (up 9% and 5% YoY), totaling $96.1M and $100.6M, and declaring a $0.30 quarterly dividend (covered at 77% of Q1 normalized AFFO). Management highlighted strong investment activity—~$400M closed or awarded YTD, $102M invested in Q1 (and ~$14.1M post-quarter) bringing YTD to ~$206M with an estimated initial cash yield of 8%; an additional $107M (managed SHOP) and $94M (skilled) are awarded to close in Q2 and ~$690M of SHOP opportunities are being pursued. Same-store SHOP metrics underpinning the outlook include revenue +7.9% YoY, occupancy +280 bps to 88.4% (U.S. 85.6%, Canada 93.4%), RevPAR +4.6% and same-store cash NOI +14.4% YoY (total managed SHOP quarter revenue +7.2% sequential, cash NOI +9.5% and margin expansion +60 bps). Balance-sheet and financing stats supporting the plan: net debt/adjusted EBITDA 5.04x, cost of permanent debt 3.92% with ~4 years weighted average term, ~no permanent floating-rate exposure, liquidity ~ $1.2B (cash $117M, revolver $645M, $451M outstanding forward sales under ATM and $353M available), $451M of forwards issued (avg $19.03) plus $128M issued this quarter (avg $20.19), and recent dispositions of three SNFs for $79.4M (6.8% lease yield).Sabra Healthcare REIT Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 812.84M | 774.63M | 703.24M | 647.51M | 624.81M | 569.54M |
| Gross Profit | 516.03M | 503.53M | 476.15M | 452.27M | 462.20M | 428.34M |
| EBITDA | 438.13M | 456.83M | 412.61M | 311.81M | 216.89M | 166.21M |
| Net Income | 156.19M | 155.61M | 126.71M | 13.76M | -77.61M | -113.26M |
Balance Sheet | ||||||
| Total Assets | 5.59B | 5.49B | 5.30B | 5.39B | 5.75B | 5.97B |
| Cash, Cash Equivalents and Short-Term Investments | 123.45M | 71.54M | 60.47M | 41.28M | 49.31M | 112.00M |
| Total Debt | 2.69B | 2.55B | 2.44B | 2.45B | 2.55B | 2.44B |
| Total Liabilities | 2.80B | 2.67B | 2.56B | 2.58B | 2.69B | 2.59B |
| Stockholders Equity | 2.79B | 2.82B | 2.74B | 2.80B | 3.06B | 3.38B |
Cash Flow | ||||||
| Free Cash Flow | 366.71M | 348.61M | 310.54M | 300.57M | 315.73M | 322.78M |
| Operating Cash Flow | 366.71M | 348.61M | 310.54M | 300.57M | 315.73M | 356.39M |
| Investing Cash Flow | -466.61M | -377.96M | -109.00M | 103.13M | -216.25M | -336.20M |
| Financing Cash Flow | 194.10M | 40.76M | -181.56M | -410.30M | -161.71M | 30.14M |
Sabra Healthcare REIT Technical Analysis
Neutral
20.68
Price Trends
20.08
Positive
19.67
Positive
18.81
Positive
Market Momentum
0.15
Positive
46.45
Neutral
16.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBRA, the sentiment is Neutral. The current price of 20.68 is above the 20-day moving average (MA) of 20.55, above the 50-day MA of 20.08, and above the 200-day MA of 18.81, indicating a neutral trend. The MACD of 0.15 indicates Positive momentum. The RSI at 46.45 is Neutral, neither overbought nor oversold. The STOCH value of 16.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SBRA.
Sabra Healthcare REIT Risk Analysis
Sabra Healthcare REIT disclosed 88 risk factors in its most recent earnings report. Sabra Healthcare REIT reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sabra Healthcare REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $14.21B | 22.11 | 12.40% | 6.11% | 13.95% | 27.68% | |
72 Outperform | $1.96B | 15.19 | 11.79% | 6.70% | 48.96% | 28.05% | |
68 Neutral | $5.16B | 32.74 | 5.61% | 6.47% | 13.50% | 7.25% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $3.63B | 24.57 | 9.88% | 4.73% | 16.91% | -1.91% | |
61 Neutral | $2.14B | -6.47 | -18.75% | 0.80% | 0.39% | -8.95% |
* Real Estate Sector Average
SBRA
Sabra Healthcare REIT
19.89
3.46
21.04%
LTC
LTC Properties
37.41
4.17
12.53%
NHI
National Health Investors
73.29
4.16
6.02%
OHI
Omega Healthcare
46.76
11.99
34.50%
DHC
Diversified Healthcare Trust
8.32
5.22
168.04%
Sabra Healthcare REIT Corporate Events
Business Operations and StrategyM&A Transactions
Sabra Healthcare REIT Highlights Strategic Senior Housing Expansion
Positive
May 28, 2026
On May 28, 2026, Sabra Health Care REIT released an investor presentation outlining year-to-date net investment activity and portfolio strategy, emphasizing its ability to leverage operational expertise and a resilient balance sheet to create long...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
Sabra Healthcare REIT Posts Solid First-Quarter 2026 Results
Positive
Apr 29, 2026
Sabra Health Care REIT, Inc. reported its first-quarter 2026 results on April 29, 2026, posting net income of $0.16 per diluted share and normalized AFFO of $0.39, supported by strong EBITDARM coverage across asset classes and a 14.4% year-over-ye...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.