SBRA

EX-99.1

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Q3 2026 EARNINGS RELEASE

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

SABRA REPORTS THIRD QUARTER 2026 RESULTS; UPDATES 2026 GUIDANCE

TUSTIN, CA, November 2, 2026 — Sabra Health Care REIT, Inc. (“Sabra,” the “Company” or “we”) (Nasdaq: SBRA) today announced its results of operations for the third quarter of 2026.

THIRD QUARTER 2026 RESULTS

•Results per diluted common share for the third quarter of 2026 were as follows:

•Net Income: $0.11

•FFO: $0.40

•Normalized FFO: $0.39

•AFFO: $0.45

•Normalized AFFO: $0.41

•EBITDARM Coverage Summary:

•Skilled Nursing/Transitional Care: 2.52x

•Senior Housing - Leased: 1.58x

•Specialty Hospitals and Other: 3.91x

•On a year-over-year basis, same property Senior Housing Operating Portfolio (“SHOP”) Cash NOI increased 14.6% for the third quarter of 2026.

INVESTMENTS AND PORTFOLIO ACTIVITY

•As previously announced, Sabra closed on the acquisition of seven SHOP communities for an aggregate price of $222.8 million in the third quarter with an estimated yield of 7.7%.

•Investments closed year to date total $747.2 million, with an estimated yield of 8.0%.

•Sabra has been awarded an additional $425 million of investments, of which about $385 million is SHOP, $25 million is skilled nursing and $15 million is preferred equity, with an estimated yield of 7.0%. These investments are currently in the Letter of Intent or later stage, and Sabra expects to fund these investments, if consummated, with available liquidity, including proceeds from outstanding forward sales agreements under its at-the-market equity offering program (“ATM program”).

•Sabra’s closed and awarded SHOP investments are expected to generate unlevered IRRs in the low-teens, providing for strong current income and the potential for outsized future earnings growth.

•On October 1, 2026, Sabra completed the previously announced transition of 26 properties formerly leased to Avamere, with 22 properties being transitioned to subsidiaries of Cascadia Healthcare and four properties being transitioned to subsidiaries of the Ensign Group. As a result of this transition, effective October 1, 2026, annualized cash rent for these properties increased to $53 million from $48 million.

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OTHER RECENT EVENTS

•During the third quarter of 2026, Sabra utilized the forward feature of the ATM program to allow for the sale of up to 0.1 million shares of the Company’s common stock at an initial weighted average price of $19.94 per share. As of September 30, 2026, 15.0 million shares remained outstanding under forward sale agreements at a weighted average price of $19.53 per share, net of commissions.

•As of September 30, 2026, Net Debt to Adjusted EBITDA was 4.54x.

•On November 2, 2026, Sabra’s Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on November 30, 2026, to common stockholders of record as of the close of business on November 13, 2026.

UPDATED FULL-YEAR 2026 GUIDANCE

Sabra is updating its 2026 earnings guidance ranges as follows (attributable to Sabra Health Care REIT, Inc., per diluted common share):

•Net Income: $0.265 - $0.275

•FFO: $1.145 - $1.155

•Normalized FFO: $1.540 - $1.550

•AFFO: $1.625 - $1.635

•Normalized AFFO: $1.600 - $1.610

Earnings guidance above assumes:

•low-single-digit Cash NOI growth for the triple-net portfolio at the midpoint, ignoring the impact of acquisitions, dispositions and completed or planned tenant transitions;

•average full-year Cash NOI growth for same store SHOP in the mid-teens;

•general and administrative expenses at the midpoint of $63 million, which includes nearly $15 million of stock-based compensation expense;

•cash interest expense of $106 million at the midpoint;

•weighted average share counts of 260 million and 261 million for Normalized FFO and Normalized AFFO, respectively;

•only investments, dispositions and capital markets activity already completed as of the date of this release.

The foregoing guidance ranges reflect management’s view of current and future market conditions. There can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above. Except as otherwise required by law, the Company assumes no, and hereby disclaims any, obligation to update any of the foregoing guidance ranges as a result of new information or new or future developments.

Commenting on the third quarter’s results, Rick Matros, CEO and Chair, said, “Sabra delivered another strong quarter. Same store SHOP Cash NOI margins and REVPOR growth are among the best in the space accompanied by solid occupancy and cash NOI growth. Investment activity continues to be robust, with $425 million currently awarded and more expected to come before year end. We expect our SHOP concentration to be around 40% on a run rate basis by year end 2026 and 50% by the end of 2027. We continue to evaluate our skilled nursing portfolio for optimiza

EX-99.1

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Q2 2026 EARNINGS RELEASE

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

SABRA REPORTS SECOND QUARTER 2026 RESULTS; REITERATES 2026 GUIDANCE

TUSTIN, CA, August 3, 2026 — Sabra Health Care REIT, Inc. (“Sabra,” the “Company” or “we”) (Nasdaq: SBRA) today announced its results of operations for the second quarter of 2026.

SECOND QUARTER 2026 RESULTS AND RECENT EVENTS

•Results per diluted common share for the second quarter of 2026 were as follows:

•Net Loss: $(0.10)

•FFO: $(0.02)

•Normalized FFO: $0.38

•AFFO: $0.39

•Normalized AFFO: $0.40

•EBITDARM Coverage Summary:

•Skilled Nursing/Transitional Care: 2.49x

•Senior Housing - Leased: 1.52x

•Behavioral Health, Specialty Hospitals and Other: 4.14x

•On a year-over-year basis, same property managed senior housing Cash NOI increased 13.7% for the second quarter of 2026.

•In the second quarter of 2026, Sabra closed on several senior housing and skilled nursing investments for a total commitment of $274.1 million with an average initial cash yield of 8.1%.

•Subsequent to quarter end, Sabra closed on the acquisition of seven additional managed senior housing properties - including several value-add opportunities - for an aggregate price of $223.0 million. These investments have attractive embedded growth prospects and are expected to achieve unlevered IRRs in the teens.

•Investments closed year to date total $599.0 million, with an estimated initial cash yield of 7.5%.

•Sabra has been awarded an additional $100 million of managed senior housing and skilled nursing investments with an estimated initial cash yield of approximately 7.7%, all of which are expected to close by year end. These investments are currently in the Letter of Intent or later stage, and Sabra expects to fund these investments, if consummated, with available liquidity, including proceeds from outstanding forward sales agreements under its at-the-market equity offering program (“ATM program”).

•During the second quarter of 2026, Sabra exercised its option to reset the rent under its lease with the Avamere Family of Companies (“Avamere”) to a fixed amount tied to the portfolio’s historical performance. The reset increased annualized fixed cash rent to $48 million and was retroactive to February 1, 2026, which compares to $41 million of cash rent paid in 2025. The revised rent amount will be in effect until the Avamere transition outlined in Sabra's July 21, 2026, business update closes.

•During the second quarter of 2026, Sabra utilized the forward feature of the ATM program to allow for the sale of up to 0.9 million shares of the Company’s common stock at an initial weighted average price of $20.72 per share. As of June 30, 2026, 21.4 million shares remained outstanding under forward sale agreements at a weighted average price of $19.24 per share, net of commissions.

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•As of June 30, 2026, Net Debt to Adjusted EBITDA was 4.61x.

•On August 3, 2026, Sabra’s Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on August 31, 2026, to common stockholders of record as of the close of business on August 14, 2026.

•Sabra is also reiterating its full year 2026 guidance, which was included in Sabra’s July 21, 2026, business update.

Commenting on the second quarter’s results, Rick Matros, CEO and Chair, said, “Sabra delivered another solid quarter. Our same-store managed portfolio cash NOI growth continued to be healthy. Both our consolidated and unconsolidated managed portfolio came in with strong margin growth as well as increased occupancy. Our triple-net skilled nursing portfolio rent coverage increased yet again. The triple-net senior housing portfolio saw drops in occupancy and coverage simply due to the conversion of a high-performing triple-net asset to the managed portfolio. Otherwise, it would have been flat. In aggregate, our top ten tenants again showed increased coverage.

Sabra has now closed on approximately $600 million in investments this year, with another $100 million in the process of closing. Even with the addition of a few value-add opportunities, we are still getting transactions done at attractive yields. Our investment pipeline remains robust and consists almost entirely of senior housing opportunities. Our leverage, which was noted to be down to 4.8x in our recent business update, was 4.6x as of June 30. We look forward to a strong finish for the year.”

LIQUIDITY

As of June 30, 2026, we had approximately $1.3 billion of liquidity, consisting of unrestricted cash and cash equivalents of $231.6 million, available borrowings under our revolving credit facility of $682.5 million and $411.8 million related to shares outstanding under forward sale agreements under the ATM program. As of June 30, 2026, we also had $334.1 million available under our ATM program.

CONFERENCE CALL AND COMPANY INFORMATION

A conference call with a simultaneous webcast to discuss the 2026 second q

EX-99.1

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Q1 2026 EARNINGS RELEASE

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

SABRA REPORTS FIRST QUARTER 2026 RESULTS; REITERATES 2026 GUIDANCE

TUSTIN, CA, April 29, 2026 — Sabra Health Care REIT, Inc. (“Sabra,” the “Company” or “we”) (Nasdaq: SBRA) today announced its results of operations for the first quarter of 2026.

FIRST QUARTER 2026 RESULTS AND RECENT EVENTS

•Results per diluted common share for the first quarter of 2026 were as follows:

•Net Income: $0.16

•FFO: $0.37

•Normalized FFO: $0.38

•AFFO: $0.39

•Normalized AFFO: $0.39

•EBITDARM Coverage Summary:

•Skilled Nursing/Transitional Care: 2.46x

•Senior Housing - Leased: 1.58x

•Behavioral Health, Specialty Hospitals and Other: 4.00x

•On a year-over-year basis, same property managed senior housing Cash NOI increased 14.4% for the first quarter of 2026.

•In the first quarter of 2026, Sabra acquired three managed senior housing properties and one skilled nursing facility, and committed to funding a preferred equity investment in the development of one senior housing community for a total of $102.0 million with an average initial cash yield of 8.3%, with $96.0 million invested as of March 31, 2026. Subsequent to quarter end, Sabra closed on two additional managed senior housing properties and committed to funding the redevelopment of a senior housing community, which is subject to a triple-net lease with an existing relationship, for an aggregate consideration of $104.1 million with an average initial cash yield of 7.7%. Investments closed year to date total $206.1 million, with an estimated initial cash yield of 8.0%.

•Sabra has been awarded an additional $200 million of managed senior housing and skilled nursing investments with an estimated initial cash yield of approximately 8.2%, most of which is expected to close during the second quarter. These investments are currently in the Letter of Intent or later stage, and Sabra expects to fund these investments, if consummated, with available liquidity, including proceeds from outstanding forward sales agreements under its current and prior at-the-market equity offering programs (“ATM programs”).

•Subsequent to quarter end, Sabra completed the disposition of three skilled nursing facilities for gross proceeds of $79.4 million, equating to a 6.8% lease yield.

•During the first quarter of 2026, Sabra utilized the forward feature of the ATM program to allow for the sale of up to 6.4 million shares of the Company’s common stock at an initial weighted average price of $20.19 per share. As of March 31, 2026, 23.7 million shares remained outstanding under forward sale agreements at a weighted average price of $19.03 per share, net of commissions.

•As of March 31, 2026, Net Debt to Adjusted EBITDA was 5.04x.

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•On April 29, 2026, Sabra’s Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on May 29, 2026, to common stockholders of record as of the close of business on May 15, 2026.

Commenting on the first quarter’s results, Rick Matros, CEO and Chair, said, “Sabra is pleased to report another quarter with outstanding results. Our year-over-year same-store managed senior housing NOI growth exceeded the two previous quarters as we saw NOI margin growth in our consolidated, unconsolidated and same-store portfolios. Our pipeline remains robust as we closed or have been awarded over $400 million in investments to date, closing in on our investment total for all of 2025. We are also executing on off-market skilled nursing deals with existing operators. Our rent coverage for all triple net asset classes hit new highs, and we are reiterating our full-year guidance.

We appreciate the amazing work happening in the field by all the teams in the facilities. It is a mission-driven business, and their dedication exemplifies that.”

LIQUIDITY

As of March 31, 2026, we had approximately $1.2 billion of liquidity, consisting of unrestricted cash and cash equivalents of $116.5 million, available borrowings under our revolving credit facility of $645.0 million and $451.0 million related to shares outstanding under forward sale agreements under the ATM programs. As of March 31, 2026, we also had $353.4 million available under our current ATM program.

CONFERENCE CALL AND COMPANY INFORMATION

A conference call with a simultaneous webcast to discuss the 2026 first quarter results will be held on Thursday, April 30, 2026, at 10:00 am Pacific Time. The webcast URL is https://events.q4inc.com/attendee/961345479. The dial-in number for U.S. participants is (888) 880-4448. For participants outside the U.S., the dial-in number is (646) 960-0572. The conference ID number is 1382596. A digital replay of the call will be available on the Company’s website at www.sabrahealth.com. The Company’s supplemental information package for the first quarter will also be available on the Company’s website in the “Investors” section.

ABOUT SABRA