---
schema_version: "secwatch.filing_event.v1"
accession: "0001492298-26-000023"
form_type: "8-K"
ticker: "SBRA"
cik: "0001492298"
company_name: "Sabra Health Care REIT, Inc."
filed_at: "2026-07-21T13:05:09+00:00"
generated_at: "2026-07-21T13:06:06.518329+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sabra raises FY 2026 Normalized FFO guidance 7% YoY; re-tenants 26 Avamere properties

## Summary
- Entered LOI to re-tenant all 26 Avamere properties; 22 to Cascadia, 4 to existing tenant; annual cash rent expected $53M (up ~30% from $41M).
- RCA mortgage settled for $200M cash repayment (vs $300M face); closed June 30, 2026; proceeds used to reduce revolver.
- Net Debt to EBITDA pro forma declines from 5.0x to 4.8x; behavioral health concentration drops from 13% to 9% of cash NOI.
- Full-year 2026 Normalized FFO guidance raised to $1.53-$1.55 per share (7% YoY increase at midpoint); AFFO guidance $1.58-$1.60.
- Smaller portfolio initiatives expected to add over $9M annual cash NOI on run-rate basis.

## SEC filing metadata
- accession: 0001492298-26-000023
- form_type: 8-K
- ticker: SBRA
- cik: 0001492298
- company_name: Sabra Health Care REIT, Inc.
- filed_at: 2026-07-21T13:05:09+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492298/000149229826000023/0001492298-26-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492298/000149229826000023/sbra-20260721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001492298-26-000023
- JSON: https://secwatch.observer/filing/0001492298-26-000023.json
- Plain text: https://secwatch.observer/filing/0001492298-26-000023.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.