secwatch.observer — SEC 8-K summary
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Issuer:     Sabra Health Care REIT, Inc. (SBRA)
CIK:        0001492298
Form:       8-K
Filed at:   2022-02-22T23:59:59+00:00
Accession:  0001492298-22-000013
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sabra Q4 2021 net loss $0.11/diluted share; Avamere lease restructured; Canadian JV announced
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- Q4 net loss of $(0.11) per diluted share; Normalized FFO $0.39; Normalized AFFO $0.37.
- Avamere lease amended: annual base rent reduced ~30% to $30.7M; recapture opportunity as performance improves.
- Formed 50/50 JV with Sienna to acquire 11 Canadian senior housing communities for C$307.5M (USD $243M); expected Q2 2022 close.
- Skilled nursing occupancy declined sequentially due to Omicron; pro forma EBITDARM coverage 1.86x after Avamere rent cut.
- Dividend of $0.30/share declared; 81% Normalized AFFO payout ratio; Net Debt/Adj. EBITDA 4.98x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492298/000149229822000013/0001492298-22-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492298/000149229822000013/sbra-20220222.htm
  HTML page:      https://secwatch.observer/filing/0001492298-22-000013

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