Logo

SBRA

Sabra Health Care REIT, Inc.

SBRA

Sabra Health Care REIT, Inc. • NASDAQ
$19.51 ▲ 0.88% (+0.17)
Market Cap $4.64 B
52w High $19.97
52w Low $15.60
Dividend Yield 1.20%
P/E 26.73
Volume 1.67M
Outstanding Shares 238.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $190.037M ▲ $60.831M ▲ $22.538M ▼ 11.86% ▼ $0 ▼ $100.365M ▼
Q2-2025 $189.15M ▲ $56.1M ▼ $65.542M ▲ 34.651% ▲ $0.28 ▲ $137.173M ▲
Q1-2025 $183.543M ▲ $56.222M ▲ $40.304M ▼ 21.959% ▼ $0.17 ▼ $111.311M ▼
Q4-2024 $182.346M ▲ $55.215M ▲ $46.695M ▲ 25.608% ▲ $0.2 ▲ $125.194M ▲
Q3-2024 $178.001M $55.124M $29.788M 16.735% $0.13 $101.71M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $200.602M ▲ $5.565B ▲ $2.738B ▲ $2.825B ▲
Q2-2025 $95.175M ▲ $5.328B ▲ $2.617B ▲ $2.711B ▲
Q1-2025 $22.653M ▼ $5.233B ▼ $2.531B ▼ $2.702B ▼
Q4-2024 $60.468M ▼ $5.304B ▼ $2.562B ▼ $2.741B ▼
Q3-2024 $63.004M $5.366B $2.621B $2.745B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $22.517M ▼ $99.964M ▲ $-199.838M ▼ $206.169M ▲ $105.866M ▲ $99.964M ▲
Q2-2025 $65.542M ▲ $80.959M ▲ $-45.132M ▼ $36.725M ▲ $72.755M ▲ $80.959M ▲
Q1-2025 $40.304M ▼ $80.263M ▲ $-16.444M ▼ $-101.242M ▼ $-37.442M ▼ $80.263M ▲
Q4-2024 $46.695M ▲ $79.968M ▼ $18.56M ▲ $-100.964M ▼ $-2.637M ▼ $79.968M ▼
Q3-2024 $29.788M $97.65M $-57.03M $-13.955M $26.667M $97.65M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Health Care Resident Service Ancillary Service
Health Care Resident Service Ancillary Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Sabra’s revenue has been inching higher over the past five years, which is encouraging for a healthcare REIT operating in a challenged sector. Profitability, however, has been bumpy: the company swung from solid profits, to losses in the middle of the period, and back to clearly positive earnings more recently. The rebound in operating and net income suggests that management has been tightening operations and improving asset performance after a difficult stretch. The key takeaway is that the core business is growing slowly, and while earnings have been volatile, the recent trend is toward healthier profitability rather than deterioration.

Balance Sheet

Balance Sheet Sabra’s balance sheet shows a sizable real estate asset base funded by a mix of debt and equity, with debt levels relatively steady over time. Shareholders’ equity has edged down from earlier years, reflecting past losses and portfolio adjustments, but it appears to have stabilized as profitability has improved. Cash on hand is modest, which is normal for a REIT that tends to distribute a large portion of its earnings, but it does mean the company relies on steady cash inflows and access to capital markets. Overall, leverage seems manageable rather than excessive, yet the company remains sensitive to interest rates and credit conditions given its reliance on borrowing to fund assets.

Cash Flow

Cash Flow Despite the ups and downs in reported earnings, Sabra’s cash flow from operations has been consistently positive and fairly stable, which is important for a REIT that must pay regular dividends. Free cash flow closely tracks operating cash flow because capital spending needs have been relatively low, suggesting the existing portfolio does not require heavy reinvestment to remain productive. This pattern points to a business model that converts a high portion of its revenues into cash, even when accounting earnings are pressured by non-cash items or portfolio changes. The main risk is less about short-term cash strain and more about how well this steady cash generation can be maintained as interest rates, tenant health, and healthcare reimbursement rules evolve.

Competitive Edge

Competitive Edge Sabra operates in a specialized corner of real estate—healthcare facilities—where deep operating knowledge and long-term relationships matter as much as the buildings themselves. Its leadership team brings hands-on experience in running care facilities, which helps them choose better operators, structure more resilient leases, and support tenants through industry shifts. The portfolio is spread across multiple property types and regions, which reduces reliance on any single operator or state-level reimbursement regime. Sabra also tries to be more of a strategic partner than a passive landlord, offering data insights, purchasing leverage, and flexible capital solutions. The flip side is that it remains exposed to healthcare policy risk, operator financial health, and broader competition from other healthcare REITs and private capital chasing similar assets.

Innovation and R&D

Innovation and R&D As a REIT, Sabra does not run traditional lab-style R&D, but it is quite active in adopting and promoting innovation with its operators. The company encourages and helps fund technologies that improve care quality and efficiency, such as digital clinical tools and AI-powered fall detection systems, which can make its facilities more attractive to residents and payers. Its “Green Links” program channels capital into energy and water efficiency projects, blending environmental impact with cost savings for tenants. Strategically, Sabra has been an early mover in behavioral health real estate and is leaning more toward private-pay assets, both of which target areas of growing demand. These efforts suggest a focus on staying ahead of industry trends rather than simply collecting rent on static properties.

Summary

Sabra Health Care REIT shows a picture of slow but steady revenue growth, improving profitability after a rough patch, and reliably positive cash flow, all anchored by a diversified healthcare property portfolio. The balance sheet carries a typical REIT level of debt, not extreme but clearly sensitive to interest rates and capital market conditions. Its main strengths lie in management’s operating expertise, close tenant relationships, and a clear effort to differentiate through technology, sustainability, and value-added services rather than pure real estate ownership. The key uncertainties center on healthcare policy, tenant financial health, and the cost of capital, while opportunities include expansion in behavioral health, continued tech integration, and further optimization of its portfolio mix. Overall, Sabra appears to be transitioning from a period of repair and repositioning into one focused more on stable growth and incremental innovation, with both structural strengths and sector-specific risks to monitor.

NEWS

November 5, 2025 · 4:05 PM UTC

Sabra Reports Third Quarter 2025 Results; Updates 2025 Guidance

Read more

October 22, 2025 · 4:05 PM UTC

Sabra Health Care REIT, Inc. Announces Third Quarter 2025 Earnings Release Date and Conference Call

Read more

October 6, 2025 · 4:05 PM UTC

Sabra Health Care REIT, Inc. to Attend the AHCA/NCAL Convention & Expo

Read more

September 16, 2025 · 4:05 PM UTC

Sabra Health Care REIT, Inc. to Host Jefferies and Attend Mizuho's Virtual REIT Conference

Read more

September 10, 2025 · 7:00 AM UTC

Sabra Health Care REIT, Inc. Upgraded to Investment Grade Rating of Baa3 by Moody's

Read more