Sabra REIT Q1 Results Exceed Expectations

IRVINE, CA—“We had an amazing quarter, with 26% revenue growth and 23% FFO growth—we’re ahead of schedule.” So says Rick Matros, CEO of Sabra Healthcare REIT, who tells GlobeSt.com that the firm’s Q1 results “exceeded our expectations. 2013 was our best year yet from an investment perspective, and 2014 is set up to be the best year we’ve had.”

In a report, analyst firm RBC Capital Markets LLC echoes that Sabra’s earnings were superior in some cases, but points out some areas where it missed the mark. According to the firm, Sabra’s reported FFO of $0.55 per share “met our expectation and surpassed consensus of $0.54 per share. The company’s property-level income and mortgage income exceeded our expectation, but was offset by higher than expected G&A expenses. Including $0.56 per share of debt charges and straight-line rent write-offs, Q1 2014 NAREIT FFO was negative $0.01 per share, which missed our expectation of positive $0.01 per share.”