Sabra Health Care REIT, Inc. reported a net income of $40.3 million for the first quarter of 2025, a significant increase from $26.3 million in the same period last year. This translates to earnings per diluted share of $0.17, up from $0.11 in the prior year. Total revenues for the quarter reached $183.5 million, compared to $166.7 million in the first quarter of 2024, marking a 10% increase. The growth in revenue was primarily driven by a rise in rental and related revenues, which increased to $96.0 million from $91.8 million, and a notable 17% increase in resident fees and services, which rose to $77.4 million.
In terms of operational changes, Sabra made a strategic acquisition of 24 units at one of its Senior Housing - Leased communities for $7.9 million during the quarter. This acquisition reflects the company's ongoing strategy to expand its portfolio in the healthcare sector. The total assets of the company as of March 31, 2025, were reported at $5.2 billion, a slight decrease from $5.3 billion at the end of 2024. The company’s liabilities also decreased to $2.5 billion from $2.6 billion, indicating a reduction in debt levels.
The company’s operational metrics showed a slight decline in the number of properties held for investment, which decreased to 364 from 374 year-over-year. However, the company reported an increase in cash flows from operating activities, which amounted to $80.3 million for the quarter, compared to $52.8 million in the same period last year. This improvement in cash flow is attributed to higher rental payments and resident fees, despite ongoing challenges such as labor shortages and increased operating costs.
Looking ahead, Sabra Health Care REIT remains focused on diversifying its portfolio and enhancing its operational efficiency. The company has expressed optimism regarding future growth opportunities, particularly in light of favorable demographic trends and increasing reimbursement rates in the skilled nursing sector. However, management cautioned that ongoing economic pressures, including inflation and labor costs, could impact future performance. The company plans to continue monitoring these factors closely while pursuing strategic investments and maintaining a strong balance sheet.
About Sabra Health Care REIT, Inc.
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