Sabra Health Care REIT, Inc. — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
Sabra reported Q3 2026 Normalized FFO of $0.39/share and raised full-year 2026 Normalized FFO guidance to $1.54–$1.55 (from prior midpoint). YTD investments totaled $747.2M at 8.0% yield, with $425M awarded (mostly SHOP). Key: 26 Avamere properties transitioned to Cascadia (22 props) and Ensign (4 props) on 10/1/26, raising annualized rent from $48M to $53M. Same-store SHOP Cash NOI grew 14.6% YoY; SHOP now represents ~34% of NOI and on track for 40% by year-end 2026.
Why this rating
Moderate: Strong organic SHOP growth, attractive new investment yields (8%), and successful rent uplift on Avamere transition are positive. However, $748M of annual investment against $4.4B market cap is material but not transformative. Guidance raise is modest (~7% NFFO growth). Net Debt/EBITDA at 4.54x is manageable but moderately leveraged.
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