Sabra Health Care reports Q4 AFFO 33c, consensus 34c

Reports Q4 revenue $163.4M, consensus $163.5M. Commenting on the fourth quarter’s results, Rick Matros, CEO and Chair, said, “We are pleased with the continued progress toward stability and growth that we experienced in the fourth quarter of 2023. Occupancy and rent coverage continued to improve in our skilled nursing and senior housing platforms. We expanded our relationship with Ignite Medical Resorts, an operator who had outstanding success navigating through the pandemic. For the first time since the pandemic, Sabra has introduced full-year guidance as we look forward to a return to earnings growth. Achieving the midpoint of our Normalized FFO per share and Normalized AFFO per share guidance range would represent a year-over-year increase of 5% and 6%, respectively. We want to thank all of our stakeholders for their continued support.”