Sabra Health Care Reit Inc Stock Price, News & Analysis

Sabra Health Care REIT (SBRA) announced that CEO Rick Matros will present at the WISE Forum on February 28, 2023, in Rancho Santa Fe, California. Other attendees include Chief Investment Officer Talya Nevo-Hacohen and Executive VP of Investments Darrin Smith. The company is also participating in the NIC Spring Conference from March 1-3, 2023, in San Diego, California, with the same executives attending. Additionally, they will take part in Citi's Global Property CEO Conference from March 5-8, 2023, in Hollywood, Florida. Sabra operates as a self-administered and self-managed REIT focused on healthcare real estate across the U.S. and Canada.

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) has announced gross proceeds of approximately $185 million from disposition activities since September 30, 2022. This includes a significant portfolio of skilled nursing properties sold for over $200,000 per bed, yielding around 7% cash yield for the year ending September 30, 2022. The net proceeds were applied to reduce borrowings under the revolving credit facility. Additionally, 24 properties transitioned from North American to Ensign (Nasdaq: ENSG) and Avamere. CEO Rick Matros highlighted the commitment to capital allocation and balance sheet management amid an uncertain macro environment.

Sabra Health Care REIT, Inc. (NASDAQ: SBRA) will release its 2022 fourth quarter earnings on February 21, 2023, after trading closes. A conference call to discuss the results is scheduled for February 22 at 10:00 a.m. Pacific Time, with U.S. participants using the number 888-880-4448. A quarterly cash dividend of $0.30 per share has been declared, payable on February 28, 2023, for shareholders of record by February 13. Visit www.sabrahealth.com for more details.

Sabra Health Care REIT, Inc. (NASDAQ: SBRA) has announced the tax treatment for its 2022 cash distributions. The total distribution per share is $1.20, which includes $0.87 categorized as ordinary dividends. The dividends consist of $0.22 as non-qualified and $0.08 as qualified dividends. Shareholders need to hold their shares for at least 45 days for dividends to qualify under Section 199A. The company also reported amounts for applicable partnership interests as $0.00. Investors are advised to consult tax advisors regarding the tax implications of these distributions.

Sabra Health Care REIT (NASDAQ: SBRA) will participate in the ASHA’s 2023 Annual Meeting from January 23-25, 2023, at The Westin Kierland in Scottsdale, Arizona. Representing the company will be Talya Nevo-Hacohen, Chief Investment Officer, Darrin Smith, Executive Vice President of Investments, and Eliza Gozar, Senior Vice President of Investments. This event highlights Sabra's commitment to the healthcare real estate sector across the U.S. and Canada.

Sabra Health Care REIT (NASDAQ: SBRA) has amended its credit facility to enhance its debt maturity profile. Key highlights include a $1.0 billion unsecured revolving credit facility maturing in January 2027 with extension options, a $430 million unsecured term loan maturing in January 2028, and a $150 million CAD term loan (~$110 million USD) also maturing in January 2028. The pricing remains consistent with previous terms, linked to adjusted SOFR/CDOR, and an accordion option allows for potential capacity increase to $2.75 billion.

Sabra Health Care REIT (NASDAQ: SBRA) announced its participation in two upcoming virtual conferences. On January 9-10, 2023, Rick Matros (CEO), Michael Costa (CFO), and Talya Nevo-Hacohen (CIO) will represent the company at the Capital One Securities 3rd Annual REIT Conference. Following this, on January 19, 2023, they, along with Darrin Smith (EVP of Investments) and Lukas Hartwich (SVP of Finance), will participate in Stifel's 2023 Seniors Housing and Healthcare Real Estate Conference. These events highlight Sabra's ongoing commitment to the healthcare real estate sector.

Sabra Health Care REIT (SBRA) reported a net loss of $0.22 per diluted share for Q3 2022, with FFO of $0.28 and AFFO of $0.34. Notably, Sabra will transition its 24-property portfolio from North American Health Care to Ensign and Avamere, generating an initial annual rent of $34.5 million. The company is on track to close asset sales generating over $200 million by year-end. As of September 30, 2022, liquidity stood at $887.7 million. A quarterly dividend of $0.30 per share was declared for November 30, 2022.

Sabra Health Care REIT, Inc. (SBRA) announced a transition of its 24-property portfolio from North American Health Care to existing tenants, The Ensign Group (ENSG) and Avamere Family of Companies. After the transition, Ensign will represent about 8% of Sabra's Annualized Cash NOI, adding 20 California properties with an initial rent of $29.4 million, while Avamere adds 4 Washington properties with an initial rent of $5.1 million. This move is expected to enhance rental income stability and improve the portfolio's credit profile, with an estimated revenue of $14.7 million for Q4 2022.