Sabra Health Care Raises Full-Year Guidance and Shifts Portfolio Toward Senior Housing
During its third-quarter 2026 earnings call, Sabra Health Care (SBRA) announced an increase in its full-year normalized funds from operations (FFO) guidance midpoint. The company is actively rebalancing its portfolio to increase exposure to senior housing operating properties, aiming for this segment to comprise 50% of total assets by late 2027. This shift moves the company toward collecting net operating income directly rather than relying solely on fixed tenant rents. In addition to portfolio restructuring, Sabra is leveraging upcoming lease expirations in its skilled nursing facilities to reset rents toward fair market value, which management expects will drive higher cash flows through 2031. The company also reported a reduction in its net debt-to-adjusted EBITDA ratio to 4.54 times, signaling a disciplined approach to capital allocation that balances growth with leverage reduction.
Tickers: $SBRA
Topics: earnings call FFO guidance REIT senior housing
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