secwatch.observer — SEC 8-K summary
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Issuer:     Sabra Health Care REIT, Inc. (SBRA)
CIK:        0001492298
Form:       8-K
Filed at:   2021-08-04T23:59:59+00:00
Accession:  0001492298-21-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492298/000149229821000038/0001492298-21-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492298/000149229821000038/sbra-20210804.htm
  HTML page:      https://secwatch.observer/filing/0001492298-21-000038

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