)
Sabra Health Care REIT (SBRA) investor relations material
Sabra Health Care REIT Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
SHOP portfolio NOI growth, excluding transition facilities, is expected to remain strong in 2026, with transition assets anticipated to further boost performance as they recover.
Focus on quality care, deep industry experience, and partnering with skilled operators positions the company for long-term value creation in healthcare real estate.
Corporate sustainability initiatives emphasize environmental stewardship, diversity, and governance, with 55% of workforce and 57% of management being women, and 34% of team members identifying as ethnic minorities.
Q4 2025 net income per diluted share was $0.11, FFO $0.36, and AFFO $0.37 per share, with strong occupancy and margin improvements across senior housing and skilled nursing portfolios.
2025 investment activity reached $450 million, with a robust pipeline and $240 million in awarded deals expected to close in early 2026.
Financial highlights
Q4 2025 normalized FFO per share was $0.36 and normalized AFFO per share was $0.38; in absolute terms, $91.2 million and $95.2 million, respectively.
Q4 2025 total revenues were $211.9 million, up from $182.3 million in Q4 2024; full-year 2025 net income was $155.6 million, up from $126.7 million in 2024.
Managed senior housing portfolio cash NOI grew $5.5 million sequentially, while triple-net portfolio cash NOI decreased $1.3 million due to asset transitions.
Sequential revenue growth in the managed senior housing portfolio was 15.8%, with cash NOI up 18.4% and margin expansion of 60 basis points.
Same-store managed senior housing revenue grew 6.4% year-over-year, with Canadian communities up 10%.
Outlook and guidance
2026 guidance: Net income per share $0.60–$0.64, FFO $1.49–$1.53, AFFO $1.55–$1.59; midpoint implies ~5% growth over 2025.
Guidance assumes no uncompleted 2026 investments, dispositions, or capital markets activities.
Triple-net portfolio cash NOI growth expected to be low single-digit, while same-store managed senior housing cash NOI growth is projected in the low-to-mid-teens.
General and administrative expense expected at $52 million, including $12 million stock-based compensation; cash interest expense at $103 million.
Management expects to exceed 2025’s investment total, with $240 million in awarded investments expected to close in early 2026.
Next Sabra Health Care REIT earnings date
Next Sabra Health Care REIT earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)