SBRA on Nasdaq
Sabra Health Care REIT, Inc.
We operate as a self-administered, self-managed REIT that, through our subsidiaries, owns and invests in real estate serving the healthcare industry.4 From its latest annual report
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with National Healthcare Properties, Inc., Easterly Government Properties, Inc. or BrightSpire Capital, Inc., or pick any stock.
- TickerSBRA on Nasdaq2
- IndustryReal Estate Investment Trusts2
- HeadquartersLutherville Timonium, United States2
- Incorporated inMD3
- Business address1781 Flight Way, Tustin, Ca 927823
- Filer categoryLarge accelerated filer3
- Legal formStock Corporation2
- LEI549300E3BC7GU7TAZ6212
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O THE CORPORATION TRUST INCORPORATED, 21093-2264 Lutherville Timonium, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D135602302
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We operate as a self-administered, self-managed REIT that, through our subsidiaries, owns and invests in real estate serving the healthcare industry.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs56¢$199.4M
- Income tax1¢$1.8M
- Profit44¢$155.6M
Out of $356.9M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid83¢$289.5M
- Kept or used elsewhere17¢$59.1M
Out of $348.6M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental and related revenues | $374.1M | $381.5M | $376.3M |
| Resident fees and services | $356.9M | $284.6M | $236.2M |
| Interest and other income | $43.6M | $37.2M | $35.1M |
| Total revenues | $774.6M | $703.2M | $647.5M |
| Depreciation and amortization | $187.0M | $169.6M | $183.1M |
| Interest | $112.5M | $115.3M | $113.0M |
| General and administrative | $53.7M | $50.1M | $47.5M |
| (Recovery of) provision for loan losses | -$1.0M | -$571.0K | $191.0K |
| Impairment of real estate | $7.3M | $18.5M | $14.3M |
| Total expenses | $630.6M | $580.0M | $553.3M |
| Loss on extinguishment of debt | -$1.2M | $0 | -$1.5M |
| Other income | $14.0M | $2.7M | $2.6M |
| Net (loss) gain on sales of real estate | -$3.5M | $2.1M | -$76.6M |
| Total other income (expense) | $9.4M | $4.8M | -$75.6M |
| Income before income (loss) from unconsolidated joint ventures and income tax expense | $153.4M | $128.1M | $18.7M |
| Income (loss) from unconsolidated joint ventures | $3.9M | -$397.0K | -$2.9M |
| Income tax expense | -$1.8M | -$1.0M | -$2.0M |
| Net income | $155.5M | $126.7M | $13.8M |
| Net loss attributable to noncontrolling interests | $99.0K | $0 | $0 |
| Net income attributable to Sabra Health Care REIT, Inc. | $155.6M | $126.7M | $13.8M |
| Basic common share (in dollars per share) | $0.64 | $0.54 | $0.06 |
| Diluted common share (in dollars per share) | $0.64 | $0.54 | $0.06 |
| Weighted-average number of common shares outstanding, basic (in shares) | 241.3M shares | 233.5M shares | 231.2M shares |
| Weighted-average number of common shares outstanding, diluted (in shares) | 244.5M shares | 236.0M shares | 232.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Real estate investments, net of accumulated depreciation of $1,224,663 and $1,102,030 as of December 31, 2025 and 2024, respectively | $4.7B | $4.5B | ||
| Loans receivable and other investments, net | $434.1M | $442.6M | ||
| Investment in unconsolidated joint ventures | $118.2M | $121.8M | ||
| Cash and cash equivalents | $71.5M | $60.5M | ||
| Restricted cash | $6.6M | $5.9M | ||
| Lease intangible assets, net | $65.3M | $27.5M | ||
| Accounts receivable, prepaid expenses and other assets, net | $111.3M | $131.8M | ||
| Total assets | $5.5B | $5.3B | ||
| Secured debt, net | $43.3M | $45.3M | ||
| Revolving credit facility | $217.6M | $106.6M | ||
| Term loans, net | $1.0B | $529.8M | ||
| Senior unsecured notes, net | $1.2B | $1.7B | ||
| Accounts payable and accrued liabilities | $119.3M | $117.9M | ||
| Lease intangible liabilities, net | $21.4M | $26.8M | ||
| Total liabilities | $2.7B | $2.6B | ||
| Preferred stock, $0.01 par value; 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and 2024 | $0 | $0 | ||
| Common stock, $0.01 par value; 500,000,000 shares authorized, 251,697,456 and 237,586,882 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $2.5M | $2.4M | ||
| Additional paid-in capital | $4.8B | $4.6B | ||
| Cumulative distributions in excess of net income | -$2.0B | -$1.9B | ||
| Accumulated other comprehensive (loss) income | -$3.6M | $20.9M | ||
| Total Sabra Health Care REIT, Inc. stockholders equity | $2.8B | $2.7B | ||
| Noncontrolling interests | $1.9M | $0 | ||
| Total equity | $2.8B | $2.7B | $2.8B | $3.1B |
| Total liabilities and equity | $5.5B | $5.3B | ||
| Accumulated depreciation | $1.2B | $1.1B | ||
| Par value (in dollars per share) | $0.01 | $0.01 | ||
| Shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Shares issued (in shares) | 0 shares | 0 shares | ||
| Shares outstanding (in shares) | 0 shares | 0 shares | ||
| Par value (in dollars per share) | $0.01 | $0.01 | ||
| Shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Shares issued (in shares) | 251.7M shares | 237.6M shares | ||
| Shares outstanding (in shares) | 251.7M shares | 237.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Real estate investments, net of accumulated depreciation of $1,224,663 and $1,102,030 as of December 31, 2025 and 2024, respectively | $4.7B | $4.5B | ||
| Loans receivable and other investments, net | $434.1M | $442.6M | ||
| Investment in unconsolidated joint ventures | $118.2M | $121.8M | ||
| Cash and cash equivalents | $71.5M | $60.5M | ||
| Restricted cash | $6.6M | $5.9M | ||
| Lease intangible assets, net | $65.3M | $27.5M | ||
| Accounts receivable, prepaid expenses and other assets, net | $111.3M | $131.8M | ||
| Total assets | $5.5B | $5.3B | ||
| Secured debt, net | $43.3M | $45.3M | ||
| Revolving credit facility | $217.6M | $106.6M | ||
| Term loans, net | $1.0B | $529.8M | ||
| Senior unsecured notes, net | $1.2B | $1.7B | ||
| Accounts payable and accrued liabilities | $119.3M | $117.9M | ||
| Lease intangible liabilities, net | $21.4M | $26.8M | ||
| Total liabilities | $2.7B | $2.6B | ||
| Preferred stock, $0.01 par value; 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and 2024 | $0 | $0 | ||
| Common stock, $0.01 par value; 500,000,000 shares authorized, 251,697,456 and 237,586,882 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $2.5M | $2.4M | ||
| Additional paid-in capital | $4.8B | $4.6B | ||
| Cumulative distributions in excess of net income | -$2.0B | -$1.9B | ||
| Accumulated other comprehensive (loss) income | -$3.6M | $20.9M | ||
| Total Sabra Health Care REIT, Inc. stockholders equity | $2.8B | $2.7B | ||
| Noncontrolling interests | $1.9M | $0 | ||
| Total equity | $2.8B | $2.7B | $2.8B | $3.1B |
| Total liabilities and equity | $5.5B | $5.3B | ||
| Accumulated depreciation | $1.2B | $1.1B | ||
| Par value (in dollars per share) | $0.01 | $0.01 | ||
| Shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Shares issued (in shares) | 0 shares | 0 shares | ||
| Shares outstanding (in shares) | 0 shares | 0 shares | ||
| Par value (in dollars per share) | $0.01 | $0.01 | ||
| Shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Shares issued (in shares) | 251.7M shares | 237.6M shares | ||
| Shares outstanding (in shares) | 251.7M shares | 237.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $155.5M | $126.7M | $13.8M |
| Depreciation and amortization | $187.0M | $169.6M | $183.1M |
| Non-cash rental and related revenues | -$1.0M | -$3.9M | -$8.7M |
| Non-cash interest income | $7.0K | $29.0K | -$372.0K |
| Non-cash interest expense | $8.0M | $10.5M | $12.3M |
| Stock-based compensation expense | $11.4M | $9.0M | $7.9M |
| Loss on extinguishment of debt | $1.2M | $0 | $1.5M |
| (Recovery of) provision for loan losses | -$1.0M | -$571.0K | $191.0K |
| Net loss (gain) on sales of real estate | $3.5M | -$2.1M | $76.6M |
| Impairment of real estate | $7.3M | $18.5M | $14.3M |
| (Income) loss from unconsolidated joint ventures | -$3.9M | $397.0K | $2.9M |
| Distributions of earnings from unconsolidated joint ventures | $7.8M | $5.4M | $3.5M |
| Other non-cash items | -$17.2M | -$534.0K | -$3.7M |
| Accounts receivable, prepaid expenses and other assets, net | -$11.4M | -$15.5M | -$11.1M |
| Accounts payable and accrued liabilities | $1.6M | -$7.1M | $8.3M |
| Net cash provided by operating activities | $348.6M | $310.5M | $300.6M |
| Acquisition of real estate and lease intangibles | -$452.9M | -$136.4M | -$78.5M |
| Origination and fundings of loans receivable | -$6.9M | -$21.6M | -$11.4M |
| Origination and fundings of preferred equity investments | -$9.0K | -$2.8M | -$11.0M |
| Additions to real estate | -$41.5M | -$54.7M | -$84.9M |
| Repayments of loans receivable | $20.7M | $3.6M | $9.3M |
| Repayments of preferred equity investments | $2.5M | $5.9M | $5.5M |
| Investment in unconsolidated joint ventures | -$1.2M | -$1.3M | -$5.2M |
| Net proceeds from the sales of real estate | $88.6M | $96.0M | $247.6M |
| Net proceeds from sales-type lease | $0 | $0 | $25.5M |
| Proceeds from net investment hedges | $4.5M | $0 | $0 |
| Insurance proceeds | $1.6M | $2.4M | $5.8M |
| Distributions in excess of earnings from unconsolidated joint ventures | $6.8M | $0 | $544.0K |
| Net cash (used in) provided by investing activities | -$378.0M | -$109.0M | $103.1M |
| Net borrowings from revolving credit facility | $109.8M | $14.6M | -$104.3M |
| Principal payments on senior unsecured notes | -$500.0M | $0 | $0 |
| Proceeds from term loans | $500.0M | $0 | $12.2M |
| Principal payments on secured debt | -$2.1M | -$2.0M | -$2.0M |
| Payments of deferred financing costs | -$4.4M | -$94.0K | -$18.1M |
| Payments related to extinguishment of debt | -$2.9M | $0 | $0 |
| Contributions from noncontrolling interests | $2.0M | $0 | $0 |
| Payment of contingent consideration | $0 | $0 | -$17.9M |
| Issuance of common stock, net | $227.8M | $86.1M | -$2.7M |
| Dividends paid on common stock | -$289.5M | -$280.1M | -$277.4M |
| Net cash provided by (used in) financing activities | $40.8M | -$181.6M | -$410.3M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $11.4M | $20.0M | -$6.6M |
| Effect of foreign currency translation on cash, cash equivalents and restricted cash | $391.0K | -$359.0K | -$614.0K |
| Interest paid | $111.0M | $105.2M | $102.4M |
| Income taxes paid | $1.5M | $1.4M | $1.7M |
| Decrease in loans receivable and other investments due to acquisition of real estate | $0 | $0 | $4.6M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Sabra Health Care REIT, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
201520202025
- Chief executive officerRichard K. Matros Nov 5, 2010 to now14
- ChairRichard K. Matros Nov 17, 2010 to now15
- PresidentRichard K. Matros Nov 5, 2010 to now14
- Chief financial officerMichael Lourenco Costa Jan 6, 2022 to now16
- Chief financial officerHarold W. Andrews Jr. Nov 5, 2010 to Dec 30, 202117
Board members and other officers (13)
- Executive VP, CIO & SecretaryDarrin Smith Jan 12, 2026 to now18
- Executive VP & CAOJessica Flores Jan 4, 2024 to now19
- Executive VP & CAOMichael Lourenco Costa Jan 13, 2021 to Dec 30, 202120
- Board memberCatherine Cusack Jan 13, 2021 to now21
- Board memberClifton J. Porter Ii. Dec 8, 2020 to now22
- Board memberAnn Kono Dec 21, 2020 to now23
- Board memberLynne S. Katzmann Mar 15, 2019 to now24
- Board memberJeffrey A. Malehorn Aug 21, 2017 to now25
- Board memberRaymond J. Lewis Aug 21, 2017 to Dec 2, 202126
- Board memberRonald G. Geary Aug 21, 2017 to Dec 2, 202127
- Board memberCraig A. Barbarosh Nov 5, 2010 to now28
- Board memberMilton J. Walters Nov 5, 2010 to Jun 17, 202129
- Board memberRichard K. Matros Nov 5, 2010 to Nov 5, 201014
Timeline
Filings
424 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 47 major events, 308 insider forms, 21 large holders, 26 other. The latest 20:
- Sep 9, 20264 EDGAR
- Sep 8, 2026144 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Aug 3, 202610-Q EDGAR
- Aug 3, 20268-K EDGAR
- Jul 21, 20268-K EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
The 424 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
10 open-market trades by officers, directors and large owners since October 2021: 5 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 8, 2026 | MATROS RICHARD KChair, CEO and President | Sale | 200,000 | $20.83 | $4.2M | Form 4 |
| Mar 25, 2026 | FLORES JESSICAExecutive VP & CAO | Sale | 15,231 | $19.86 | $302.5K | Form 4 |
| May 20, 2025 | FOSTER MICHAEL JDirector | Sale | 11,000 | $18.22 | $200.4K | Form 4 |
| Feb 24, 2025 | Cusack CatherineDirector | Buy | 1,500 | $15.92 | $23.9K | Form 4 |
| Feb 21, 2025 | Cusack CatherineDirector | Buy | 1,000 | $16.44 | $16.4K | Form 4 |
| May 22, 2024 | Cusack CatherineDirector | Buy | 7,000 | $14.43 | $101.0K | Form 4 |
| May 14, 2024 | FOSTER MICHAEL JDirector | Sale | 10,000 | $14.68 | $146.8K | Form 4 |
| Sep 1, 2023 | Costa Michael LourencoExecutive VP, CFO & Treasurer | Buy | 1,947 | $12.63 | $24.6K | Form 4 |
| Feb 25, 2022 | Cusack CatherineDirector | Buy | 2,000 | $13.24 | $26.5K | Form 4 |
| Dec 29, 2021 | Andrews Harold W. Jr.Executive VP, CFO & Secretary | Sale | 110,000 | $13.55 | $1.5M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 202630
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202631
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 27, 202632
- State Street CorporationSCHEDULE 13G, 5 filings Feb 6, 2023 to Feb 9, 202633
- PRINCIPAL REAL ESTATE INVESTORS LLCSCHEDULE 13G/A, 5 filings Feb 15, 2022 to Feb 6, 202634
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 41,614,351 | $811.9M | 0.0% | +2,515,962 |
| Principal Financial Group Inc | 24,706,070 | $482.0M | 0.2% | −346,051 |
| Vanguard Portfolio Management LLC | 23,352,373 | $455.6M | 0.0% | +209,125 |
| State Street Corp | 12,305,655 | $240.1M | 0.0% | +205,704 |
| Vanguard Capital Management LLC | 11,349,125 | $221.4M | 0.0% | +118,377 |
| Geode Capital Management, LLC | 7,909,172 | $154.3M | 0.0% | +458,403 |
| Centersquare Investment Management LLC | 5,814,427 | $113.4M | 1.0% | +1,936,617 |
| Bank Of America Corp /de/ | 5,300,762 | $103.4M | 0.0% | −108,399 |
| Charles Schwab Investment Management Inc | 4,840,401 | $94.4M | 0.0% | +67,098 |
| Nuveen, LLC | 4,464,764 | $87.1M | 0.0% | −2,208,520 |
| Lasalle Investment Management Securities LLC | 4,278,884 | $83.5M | 3.0% | +454,262 |
| Rush Island Management, LP | 4,210,530 | $82.1M | 5.4% | +2,612,243 |
| Northern Trust Corp | 3,855,404 | $75.2M | 0.0% | +32,232 |
| Dimensional Fund Advisors LP | 3,659,815 | $71.4M | 0.0% | −65,522 |
| Goldman Sachs Group Inc | 3,439,531 | $67.1M | 0.0% | −294,410 |
| Sumitomo Mitsui Trust Group, Inc. | 3,439,381 | $67.1M | 0.0% | +230,781 |
| Duff & Phelps Investment Management Co | 3,331,616 | $65.0M | 0.6% | +503,171 |
| Norges Bank | 3,313,984 | $64.7M | 0.0% | New |
| Jpmorgan Chase & Co | 3,231,743 | $63.3M | 0.0% | −4,969,477 |
| Bank of New York Mellon Corp | 3,239,486 | $63.2M | 0.0% | −61,653 |
| Fmr LLC | 2,955,455 | $57.7M | 0.0% | −446,847 |
| Nomura Asset Management International Inc. | 2,635,140 | $51.4M | 0.1% | −164,184 |
| Invesco Ltd. | 2,532,046 | $49.4M | 0.0% | +210,907 |
| Advisors Capital Management, LLC | 2,528,334 | $49.3M | 0.5% | +92,250 |
| Morgan Stanley | 2,279,604 | $44.5M | 0.0% | +37,361 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
4 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Apr 10, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $1,001 - $15,000 | +21.4% | Report |
| Mar 1, 2023 | Daniel S. GoldmanDemocratic, House | Buy | $1,001 - $15,000 | −32.0% | Report |
| Nov 8, 2022 | Christopher L. Jacobs, House | Sale | $1,001 - $15,000 | +40.1% | Report |
| Jun 21, 2022 | Christopher L. Jacobs, House | Buy | $15,001 - $50,000 | −66.3% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
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- 4
- 5
- 6
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- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARRichard K. Matros, Chair
- 16
- 17
- 18
- 19SEC EDGARJessica Flores, Executive VP & CAO
- 20
- 21SEC EDGARCatherine Cusack, Board member
- 22SEC EDGARClifton J. Porter Ii., Board member
- 23SEC EDGARAnn Kono, Board member
- 24SEC EDGARLynne S. Katzmann, Board member
- 25SEC EDGARJeffrey A. Malehorn, Board member
- 26SEC EDGARRaymond J. Lewis, Board member
- 27SEC EDGARRonald G. Geary, Board member
- 28SEC EDGARCraig A. Barbarosh, Board member
- 29SEC EDGARMilton J. Walters, Board member
- 30
- 31
- 32
- 33
- 34