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Jun 30, 2020
Sabra Health Care REIT Q2 2020 Earnings Report
Sabra's Q2 2020 financial results were announced, revealing a mixed performance impacted by the COVID-19 pandemic.
Key Takeaways
Sabra Health Care REIT reported a net income of $29.623 million for the second quarter of 2020. The company's operations were impacted by occupancy declines and increased operating expenses due to the COVID-19 pandemic. However, rent collections remained strong, and the balance sheet remained healthy with significant liquidity.
Net income attributable to common stockholders was $0.14 per diluted common share.
FFO, Normalized FFO, AFFO and Normalized AFFO per diluted common share were $0.43, $0.45, $0.42 and $0.44, respectively.
Liquidity of $955.3 million as of June 30, 2020.
Net Debt to Adjusted EBITDA of 5.00x (5.54x including the unconsolidated joint venture).
Sabra Health Care REIT
Sabra Health Care REIT
Sabra Health Care REIT Revenue by Segment
Revenue by Segment
Rental and related revenues Revenue
CapyFin.comResident fees and services Revenue
CapyFin.comInterest and other income Revenue
CapyFin.com Forward Guidance
The company focuses on maintaining a strong balance sheet with ample liquidity. Sabra is prepared to provide support to its operators as warranted and will continue to look for opportunities to strengthen its portfolio through strategic dispositions and opportunistic acquisitions.
Positive Outlook
- Government assistance may bolster operators.
- Slowing occupancy declines.
- Resumption of admissions.
- Strategic dispositions to strengthen portfolio.
- Opportunistic acquisitions to strengthen portfolio.
Challenges Ahead
- Operational recovery may be slower than expected.
- Potential delays in operational recovery.
- Cost of capital makes material acquisitions challenging.
- Maintaining leverage within targets.
- Avoiding any disruption to ratings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income