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Dec 31, 2024
Sabra Health Care REIT Q4 2024 Earnings Report
Sabra Health Care REIT reported solid financial results for Q4 2024, with strong performance in its skilled nursing and senior housing portfolios.
Key Takeaways
Sabra Health Care REIT delivered strong Q4 2024 results, driven by a 17.9% YoY increase in same-store managed senior housing Cash NOI. The company recorded net income of $46.7 million and total revenues of $182.3 million. Sabra completed acquisitions and disposals to optimize its portfolio while maintaining a strong balance sheet.
Net income of $46.7 million with EPS of $0.19.
Total revenue increased to $182.3 million, driven by rental and resident fees.
Same-store managed senior housing Cash NOI grew 17.9% YoY.
Completed property transactions worth $80.5 million, optimizing asset portfolio.
Revenue by Segment
Forward Guidance
Sabra expects continued stable financial performance in 2025, with growth in its triple-net and managed senior housing portfolios while maintaining cost controls and financial flexibility.
Positive Outlook
- Projected net income per share of $0.67 - $0.70.
- AFFO guidance of $1.47 - $1.50 per share.
- Low-single-digit Cash NOI growth for the triple-net portfolio.
- Low-to-mid teens Cash NOI growth for managed senior housing.
- Strong balance sheet with liquidity of $980 million.
Challenges Ahead
- General and administrative expenses expected at $50 million.
- Potential labor cost pressures affecting operators.
- No assumed 2025 investments or dispositions in guidance.
- Uncertainty in macroeconomic conditions may impact growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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