- Sabra Health Care (NASDAQ:SBRA) Q2 adjusted FFO per share of 61 cents misses consensus by 2 cents and compares with 55 cents a year ago.
- Total revenue more than doubled to $166.3M from $64.7M a year ago.
- Reaffirms previously issued 2018 guidance.
- "We expect that occupancy and coverages for our skilled nursing portfolio and the sector as a whole are close to bottom and that we will see an upturn in 2019, with senior housing lagging somewhat behind due to existing oversupply," says Chairman and CEO Rick Matros.
- Skilled nursing/transitional care occupancy 81.8% vs. 81.6% in Q1.
- Senior housing-leased occupancy 56.2% vs. 86.5% Q/Q.
- Specialty hospitals and other occupancy 86.3% vs. 83.4% Q/Q.
- During Q2, Sabra completed the sale of 27 facilities leased to Genesis for gross sales proceeds of $235.9M. Of the remaining 19 facilities leased to Genesis that it plans to sell, five are currently under contract for sale with expected total gross sales proceeds of $40.4M, and 14 are under letter of intent with expected total gross sales proceeds of $75.8M.
- Source: Press Release
- Previously: Sabra Healthcare misses by $0.02, beats on revenue (Aug. 8)
- Now read: It's Easy To Be Patient With This 8% Dividend
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