SBRA Earnings Prediction
The chart below shows how SBRA performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SBRA sees a -1.97% change in stock price 10 days leading up to the earnings, and a -0.28% change 10 days following the report. On the earnings day itself, the stock moves by +0.42%. This data can give you a slight idea of what to expect for the next quarter's release.
SBRA Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
178.00M
10.13%
1.06%
Gross Margin
69.53%
-4.03%
-2.63%
Operating Margin
36.25%
0.19%
-4.88%
Net Margin
16.73%
279.12%
22.92%
EPS
0.13
285.71%
30.00%
No Data Available
SBRA Earnings Analysis
Sabra Healthcare REIT, Inc. Corporation (SBRA.O) Earnings Conference Call
Positive
Occupancy Rate Improvement: 1. Occupancy Growth: Occupancy for the skilled nursing facility (SNF) portfolio increased by 130 basis points sequentially, while the same store senior housing operating portfolio (SHOP) saw a 90 basis point increase, indicating a strong recovery in occupancy rates.
EBITDARM Rent Coverage Improvement: 2. Increased EBITDARM Rent Coverage: The EBITDARM rent coverage for the skilled nursing and triple-net senior housing portfolios improved to 1.94x and 1.37x, respectively, reflecting a significant recovery compared to pre-pandemic levels.
Senior Housing Revenue Increase: 3. Year-over-Year Revenue Growth: Revenue for the same store managed senior housing portfolio grew by 7.6% year-over-year, with Canadian communities experiencing a notable 10.8% increase in revenue during the same period.
Cash NOI Performance: 4. Cash NOI Growth: Cash NOI for the managed senior housing portfolio increased by 17.8% year-over-year, with U.S. communities growing by 15.3% and Canadian communities by 24.8%, showcasing strong operational performance.
Quarterly Cash Dividend Announcement: 5. Dividend Declaration: The Board of Directors declared a quarterly cash dividend of $0.30 per share, representing a payout of 81% of the third quarter normalized AFFO per share, indicating a commitment to returning value to shareholders.
Negative
Senior Housing Occupancy Decline: 1. Declining Occupancy in Senior Housing: Occupancy in the senior housing triple-net portfolio decreased from 90% to 89.6% sequentially, indicating a slight decline in performance despite overall stability in the sector.
Behavioral Health Stagnation: 2. Flat Coverage in Behavioral Health: Coverage and occupancy in the behavioral and other category remained flat sequentially, reflecting stagnation in this segment despite the addition of a lower occupancy stabilized addiction treatment center.
High Leverage Risks: 3. High Leverage Ratios: The net debt to adjusted EBITDA ratio stood at 5.3 times as of September 30, 2024, indicating a high level of leverage that could pose risks to financial stability.
Percentage Rent Limitations: 4. Limited Growth in Percentage Rents: While percentage rents have been collected for several quarters, there are no other tenants with meaningful percentage rents baked into their leases, limiting potential revenue growth from this source.
G&A Expense Trends: 5. Increased G&A Expenses: Recurring cash G&A expenses were reported at $9.5 million for the quarter, slightly better than the previous run rate but still indicating ongoing operational costs that could impact profitability.
SBRA FAQs
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SBRA Earning Call Sentiment
Sabra Health Care REIT, Inc. (SBRA) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
SBRA.O
-0.18%Positive
The earnings call presents a generally positive outlook with strong financial performance, including growth in FFO and AFFO per share, improved NOI, and a stable debt ratio. The quarterly dividend reflects confidence in financial health. The Q&A highlights cautious optimism, with management being selective in acquisitions and maintaining compliance with debt covenants. Despite regulatory and competitive pressures, the overall sentiment remains positive, especially with the robust acquisition opportunities and strong liquidity. Given the market cap, the stock is likely to see a positive movement in the 2% to 8% range over the next two weeks.
