Sabra Q2 net loss $(0.61)/share on $164M Enlivant impairment; CFO to retire Dec 31, 2021

Sabra Health Care REIT, Inc.

2021-Q2 EPS reported -$0.46 revenue$305,297,000

Net loss per diluted share $(0.61) includes $(0.76) impairment on Enlivant JV; Normalized FFO $0.41, Normalized AFFO $0.40.
Declared Q3 dividend $0.30/share (75% payout of Normalized AFFO); payable Aug 31, record Aug 17.
Plans to exit Enlivant (49% stake) after impairment; TPG sought management fee changes; JV leverage 20.0x net debt/EBITDA.
CFO Harold Andrews retiring Dec 31, 2021; Michael Costa (EVP Finance & CAO) to become CFO Jan 1, 2022; Andrews to consult 2 years.
Full-year 2021 guidance: Normalized FFO $1.56-$1.58, Normalized AFFO $1.53-$1.55; $111M investments at 8.2% initial cash yield.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Harold Andrews

Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary

SBRA · Sabra Health Care REIT, Inc.

Effective: 2021-12-31
Successor: Michael Costa
Filed: August 4, 2021, 7:59 PM ET

Harold Andrews, the Company’s Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary, has decided to retire from Sabra, effective December 31, 2021

Appointed

Michael Costa

Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary

SBRA · Sabra Health Care REIT, Inc.

Effective: 2022-01-01
Filed: August 4, 2021, 7:59 PM ET

Michael Costa, Sabra’s Executive Vice President – Finance and Chief Accounting Officer, is expected to assume each of these positions effective January 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Harold Andrews retired as Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary at Sabra Health Care REIT, Inc..

Action: retired
Role: Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary

Exact text from the filing

Harold Andrews, the Company’s Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary, has decided to retire from Sabra, effective December 31, 2021

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Costa was appointed as Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary at Sabra Health Care REIT, Inc..

Action: appointed
Role: Executive Vice President, Chief Financial Officer (Principal Financial Officer) and Secretary

Exact text from the filing

Michael Costa, Sabra’s Executive Vice President – Finance and Chief Accounting Officer, is expected to assume each of these positions effective January 1, 2022.

View on SEC.gov

Sabra Health Care REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001492298-21-000038

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