Sabra Health Care REIT, Inc. reported a notable increase in its financial performance for the second quarter of 2025, with total revenues reaching $189.2 million, up from $176.1 million in the same period last year. The company’s net income for the quarter was $65.5 million, significantly higher than the $24.0 million reported in Q2 2024. This translates to a basic earnings per share of $0.28, compared to $0.10 in the prior year. For the first half of 2025, total revenues were $372.7 million, an increase from $342.9 million in the first half of 2024, while net income rose to $105.8 million from $50.2 million.
The company experienced several strategic developments during the reporting period, including the acquisition of one Senior Housing - Managed community and the exercise of an option to acquire 24 additional units on an existing campus, totaling $61.1 million in investments. In contrast, Sabra disposed of six facilities, generating $37.1 million in net proceeds and a net gain of $10.0 million. The company’s total assets as of June 30, 2025, stood at $5.3 billion, slightly up from $5.3 billion at the end of 2024, while total liabilities increased to $2.6 billion from $2.6 billion.
Operationally, Sabra reported a 16% increase in resident fees and services, which amounted to $79.0 million for the quarter, driven by higher occupancy rates and the addition of new facilities. The company’s total real estate investments, net of accumulated depreciation, were $4.5 billion, reflecting a slight decrease from $4.5 billion at the end of 2024. The company’s employee headcount remained stable, with no significant changes reported during the quarter.
The filing also highlighted challenges faced by the company, including increased labor costs and ongoing market conditions that could impact tenant performance. Sabra noted that its tenants' dependency on government reimbursement programs remains a critical factor in its operations. Looking ahead, the company anticipates continued growth through strategic acquisitions and capital recycling initiatives, while maintaining a focus on liquidity and balance sheet strength. As of June 30, 2025, Sabra had approximately $1.2 billion in liquidity, including cash and available borrowings, positioning it well for future investments.
About Sabra Health Care REIT, Inc.
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