earnings
confidence high
sentiment neutral
materiality 0.75
Sabra Q1 Normalized AFFO $0.38 per share; dividend $0.30; skilled nursing occupancy rebounds
Sabra Health Care REIT, Inc.
2022-Q1 EPS reported
$0.18
revenue$163,105,000
- Q1 net income $0.18/diluted share; FFO $0.39; Normalized FFO $0.38; AFFO $0.39; Normalized AFFO $0.38.
- Board declared $0.30 quarterly cash dividend, payable May 31; payout ratio 79% of Normalized AFFO.
- Skilled nursing occupancy recovered to 76.5% in March from Jan low of 74.6%; seven largest tenants up sequentially.
- Same-store senior housing managed: REVPOR up ~6% YoY in assisted living; Cash NOI +11% sequential, +18% YoY.
- Acquired managed senior housing for $26M at 6.7% initial yield; liquidity $1.0B; Net Debt/Adj. EBITDA 5.11x.