Sabra Health Care REIT Q2 2026: Loan-Loss Charge Masks Strong NOI Gains
As seen on the 24/7 Wall St. homepage on August 3, 2026.
A $102.4 million non-cash provision for loan losses drove the quarterly loss, masking a quarter where same-store managed senior housing cash NOI rose 13.7% and revenue came in above expectations by 7.5%. Management reiterated full-year normalized FFO guidance of $1.53 to $1.55 and declared a $0.30 dividend, with roughly $100 million more in deals set to close by year end.
Continue ReadingShow less
Sabra Health Care REIT reported a Q2 2026 EPS loss of $0.10, swinging well below the $0.17 consensus estimate, but the headline number is almost entirely explained by a $102.4 million non-cash provision for loan losses. Strip that charge away and the underlying business told a noticeably different story: revenue of $235.9 million cleared analyst expectations by 7.5%, and same-store managed senior housing cash net operating income climbed 13.7% year over year.
The operational strength was enough for management to stand behind its full-year normalized FFO guidance of $1.53 to $1.55 per share. Sabra also declared a $0.30 quarterly dividend, signaling confidence in cash generation despite the paper loss. With roughly $100 million in additional deals expected to close before year end, the pipeline remains an active variable investors will want to monitor heading into Q3.
Sponsored
Twelve Tabs, One Thesis
Your Research Resets Every Morning
The quote page in one tab. Filings in another. A chart you rebuilt from scratch, a transcript you never went back and found, a screener whose settings you will redo next week. Nothing you built yesterday is still there.
AlphaSpace replaces all of it with one screen you arrange yourself. Earnings calendar, estimate versus actual, the call transcript, live news, your own charts, every panel wired to whatever ticker you click. Close the browser and it is all still sitting there tomorrow.
See What a Built View Looks Like →
(Sponsor)
Looking at recent EPS history, Sabra had been consistently landing near or above estimates — including a notable beat in Q2 2025 when reported FFO of $0.25 topped the $0.17 estimate — before the Q4 2025 result of $0.11 fell short and now this loan-loss-driven miss. The Q2 2026 result is an outlier shaped by a single non-cash item rather than a deterioration in the core rent and NOI trends.
Mentioned: SBRA