The following is a summary of the Sabra Health Care REIT, Inc. (SBRA) Q3 2024 Earnings Call Transcript:
Financial Performance:
Sabra Health Care REIT reported normalized FFO per share of $0.35 and normalized AFFO per share of $0.37, showing a year-over-year growth of 9%.
Cash rental income from the triple-net portfolio totaled $91.8 million for the quarter, reflecting a better performance than anticipated.
Net debt to adjusted EBITDA ratio was 5.3 times as of September 30, 2024, showing ongoing balance sheet strength and improvement.
Business Progress:
Continued improvement across all primary asset classes, with sequential growth in occupancy and skilled mix in the SNF portfolio.
Investments for the quarter totaled just under $100 million, with a focus on high-quality investments and good yields.
The managed senior housing portfolio showed strong quarter results with significant increases in occupancy and cash NOI.
Provided full-year 2024 guidance with an increase at the midpoint of normalized FFO per share and normalized AFFO per share.
Opportunities:
Expected growth in 2025 driven by strong performance and strategic investments in senior housing and skilled nursing facilities.
Growth in the investment pipeline with an uptick in skilled nursing opportunities and the pursuit of high-quality assets.
Risks:
Variability in occupancy rates and the impact of economic factors on investment and operational performance.
Regulatory risks including potential changes which could impact operational metrics and compliance costs negatively.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
