NASDAQ$SBRA
Sabra Health Care REIT Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Sabra Health Care REIT reported fourth quarter 2021 results and provided a business update.
Sabra Health Care REIT reported a net loss of $(0.11) per diluted common share for Q4 2021. Normalized FFO was $0.39 and AFFO was $0.20. The company completed the sale of eight facilities for gross proceeds of $85.9 million and continued to maintain a strong Net Debt to Adjusted EBITDA ratio of 4.98x.
- Net Loss per share was $(0.11) for Q4 2021.
- FFO was $0.11, Normalized FFO was $0.39, and AFFO was $0.20.
- EBITDARM Coverage for skilled nursing and specialty hospital portfolios were 1.77x and 3.83x, respectively.
- The company completed the sale of four skilled nursing/transitional care facilities, two senior housing communities and two hospitals for gross sales proceeds of $85.9 million.
Headline financials
Revenue & EPS history
Sabra Health Care REIT · Revenue · Quarterly
$136M
Revenue by segment
Sabra Health Care REIT · $162M total across 3 segments · Q3 2023
- Rental and related revenues$93.1M+10.5%57.6%
- Resident fees and services$59.7M+25.5%37.0%
- Interest and other income$8.79M-1.6%5.4%
Forward guidance
Sabra is optimistic that absent the emergence of a new variant, their portfolio and the broader industry can get back on track toward recovery. The company is also pleased to have agreed with Avamere on a restructuring of their lease obligations and believe the restructured lease provides them with a path for success. Their pending Canadian joint venture gets 2022 off to a good start on the investment front. Canada has proven to be a stable market and they look forward to continued growth there.
Tailwinds
- COVID cases in our portfolio peaked before the end of January and then started dropping, materially so for the staff at our facilities.
- With more staff available, occupancy has increased the first two weeks of February.
- We are more optimistic that absent the emergence of a new variant, our portfolio and the broader industry can get back on track toward recovery.
- We are also pleased to have agreed with Avamere on a restructuring of their lease obligations and believe the restructured lease provides them with a path for success.
- Our pending Canadian joint venture gets 2022 off to a good start on the investment front.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.5%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-0.4%
Avg return
30 days after
45%
27 / 60 earnings
Positive
+10.4%
Q1 2022
Best reaction
-13.1%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | +0.1% | -2.3% | |
| Q3 2025 | +2.3% | +4.2% | +11.7% | |
| Q1 2025 | +1.2% | +0.1% | -0.2% | |
| Q4 2024 | -1.0% | -0.8% | +4.3% | |
| Q3 2024 | -4.8% | -4.1% | -4.3% | |
| Q2 2024 | -0.1% | -1.1% | +4.7% | |
| Q1 2024 | -1.7% | -1.7% | -5.1% | |
| Q4 2023 | +0.4% | +0.4% | +6.0% | |
| Q3 2023 | +0.7% | +2.0% | +1.6% | |
| Q2 2023 | +0.8% | -0.9% | -1.2% | |
| Q1 2023 | -0.5% | +1.7% | +1.7% | |
| Q4 2022 | -4.2% | -6.3% | -22.0% | |
| Q3 2022 | -13.1% | -3.5% | -7.1% | |
| Q2 2022 | +0.0% | +2.9% | -4.0% | |
| Q1 2022 | +10.4% | +6.0% | +10.4% | |
| Q4 2021 | -3.9% | -0.7% | +5.6% | |
| Q3 2021 | -2.1% | -0.1% | -11.2% | |
| Q2 2021 | -3.7% | -4.7% | -8.7% | |
| Q1 2021 | -2.2% | +0.0% | -1.3% | |
| Q4 2020 | +1.7% | -3.6% | -0.8% | |
| Q3 2020 | -4.0% | +15.7% | +27.6% | |
| Q2 2020 | +4.4% | +7.7% | +5.9% | |
| Q1 2020 | -5.7% | -1.6% | +35.6% | |
| Q4 2019 | -3.5% | -11.1% | -50.1% | |
| Q3 2019 | +3.3% | +0.6% | -6.4% | |
| Q2 2019 | +5.5% | +4.5% | +8.5% | |
| Q1 2019 | -1.6% | +0.5% | -0.5% | |
| Q4 2018 | -2.7% | -9.6% | -2.0% | |
| Q3 2018 | -0.6% | -1.4% | -12.9% | |
| Q2 2018 | -0.3% | -0.3% | +3.4% | |
| Q1 2018 | +3.3% | +2.9% | +7.6% | |
| Q4 2017 | +2.8% | +4.8% | +0.2% | |
| Q3 2017 | -1.5% | -2.7% | -2.7% | |
| Q2 2017 | +1.6% | +0.9% | -4.1% | |
| Q1 2017 | -10.2% | -8.8% | -14.2% | |
| Q4 2016 | +0.6% | +5.4% | +6.7% | |
| Q3 2016 | -8.9% | -7.2% | -0.4% | |
| Q2 2016 | +1.6% | +2.4% | +6.6% | |
| Q1 2016 | +4.4% | — | — | |
| Q4 2015 | +8.3% | — | — | |
| Q3 2015 | -2.9% | — | — | |
| Q2 2015 | -4.6% | — | — | |
| Q1 2015 | -6.0% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | -0.9% | — | — | |
| Q2 2014 | -2.0% | — | — | |
| Q1 2014 | -2.6% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | +4.1% | — | — | |
| Q2 2013 | -7.3% | — | — | |
| Q1 2013 | +2.4% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +2.6% | — | — | |
| Q2 2012 | +3.0% | — | — | |
| Q1 2011 | -4.6% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q4 2011 | +5.1% | — | — | |
| Q3 2011 | +7.5% | — | — | |
| Q2 2011 | +3.9% | — | — | |
| Q4 2010 | -6.5% | — | — |
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