Sabra Health Care REIT

What Sabra Health Care REIT does

Sabra Health Care REIT, Inc. is a self-administered, self-managed real estate investment trust that owns and leases a diversified portfolio of healthcare properties across the United States and Canada. Its 393 investments span skilled nursing facilities, senior housing communities (both triple-net leased and the consolidated Senior Housing Operating Portfolio), and behavioral health assets held across 61 operator relationships, with maximum single-relationship concentration of 7.8%. The company generated $221.75 million in Q1 2026 revenue (up 20.9% year-over-year) and carries a $7.4 billion enterprise value with $1.2 billion of liquidity and a 38% debt-to-asset ratio, reflecting 15 consecutive years of uninterrupted dividends.

The business model rests on two revenue streams: recurring rental income from triple-net leases with healthcare operators, and operating revenue from the 90-property consolidated SHOP segment, which produced 14.4% same-store cash NOI growth and 7.9% same-store revenue growth in Q1 2026 with 88.4% portfolio occupancy. The company recently crossed a 50% private-pay mix threshold, reducing reliance on government reimbursement. GTM motion is B2B-direct: Sabra originates transactions via operator relationships, sale-leasebacks, adaptive reuse, and development programs (including an Ontario long-term care initiative with Omega Healthcare Investors), and reaches capital markets through major REIT investor conferences and IR channels. A partnership with PainChek adds an AI-powered pain-assessment technology layer across up to 20,000 beds, eligible for Remote Therapeutic Monitoring reimbursement, positioning Sabra to monetize technology-driven value-add services for its operator tenants.

Name

Sabra Health Care REIT

Legal name

Sabra Health Care REIT, Inc.

Website

https://sabrahealth.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Sabra Health Care REIT is a publicly traded self-managed REIT that owns and leases 393 healthcare properties (skilled nursing, senior housing, behavioral health) across the US and Canada to 61 operator relationships, generating rental income and managed senior housing revenue.

Ownership category

akta.pro rank

Product category

Healthcare Real Estate Investment

NAICS

Finance and Insurance (52), Rental and Leasing Services (532)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

akta.pro secondary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Healthcare real estate
• Skilled nursing facilities
• Senior housing
• Triple-net leases
• Behavioral health facilities

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Others

Revenue model

1. Rental Income from Healthcare Real Estate: Sabra generates revenue primarily through rental income from its portfolio of healthcare real estate assets, including skilled nursing facilities, senior housing properties, and behavioral health facilities across the United States and Canada. The company operates as a self-administered, self-managed REIT.
2. Senior Housing Operating Portfolio (SHOP) Revenue: The company generates operating revenue from its managed senior housing portfolio (SHOP), which contributed to 14.4% same-store cash NOI growth and 7.9% same-store revenue growth in Q1 2026. The SHOP portfolio expanded to 90 consolidated properties.

Distribution channels3 records

Marketing channels5 records

Core offering

Sabra Health Care REIT is a self-administered, self-managed real estate investment trust that owns and invests in healthcare real estate across the United States and Canada. The company holds a diversified portfolio of 393 investments across 61 operator relationships, comprising skilled nursing facilities, senior housing properties (both triple-net leased and managed SHOP), and behavioral health facilities. Revenue is generated primarily through rental income from triple-net leases and operating income from its managed senior housing portfolio.

Product overview

Sabra Health Care REIT is a self-administered, self-managed Real Estate Investment Trust that operates as a unified platform for healthcare real estate investment. The company manages a diversified portfolio of 393 investments across 61 operator relationships, comprising core holdings in Skilled Nursing Facilities, Triple-Net Senior Housing, and Seniors Housing Operating Portfolio (SHOP) properties. The company also integrates AI-powered technology through PainChek for pain assessment in dementia care. With an enterprise value of $7.4 billion and liquidity of $1.2 billion, Sabra focuses on generating returns through property ownership, operator relationships, and capital deployment into healthcare real estate across the United States and Canada.

Differentiator

Problem solved

Functional benefit

Products and services

• Skilled Nursing Facility Real Estate Investment Long-term care and skilled nursing facility investments leased to healthcare operators under triple-net and other lease structures, representing a traditional core holding with record-high rent coverage and margins.
• Senior Housing Operating Portfolio (SHOP) Managed senior housing properties operated directly by Sabra, expanded to 90 consolidated properties as of Q1 2026, generating same-store cash NOI growth of 14.4% and revenue growth of 7.9%.
• Triple-Net Senior Housing Leasing Senior housing properties leased to operators under triple-net arrangements, providing stable rental income with growth potential.
• Behavioral Health Facilities Investment Real estate investments serving the behavioral health sector within the broader healthcare real estate portfolio.
• Operator Capital Solutions Capital solutions program offering sale-leaseback financing, acquisition capital, development funding, and adaptive reuse project financing to healthcare operators across the U.S. and Canada.

Quantifiable outcome

• 14.4% same-store cash NOI growth in managed senior housing portfolio
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Partnerships

One partnership is on record.

• PainChekcoreTechnology or Integration · 14 April 2026PainChek signed a Master Services Agreement with Sabra Health Care REIT to deploy its AI-powered pain assessment technology across up to 20,000 beds in 329 facilities in the US and Canada. Pricing is set at $55-75 USD per bed per annum under a perpetual agreement. The agreement follows PainChek's FDA De Novo clearance for its Adult App in October 2025 and eligibility for US Remote Therapeutic Monitoring reimbursement.

Scale indicators15 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Omega Healthcare Investors: Omega Healthcare Investors (NYSE: OHI) is one of the largest skilled nursing and assisted living REITs in the U.S. It is a directly comparable peer — Sabra's CEO/Chair Rick Matros has a long history with Omega, and Omega recently made a $93M strategic investment in Sabra's operating company.
• CareTrust REIT: CareTrust REIT (NYSE: CTRE) is a pure-play skilled nursing and seniors housing triple-net REIT with a similar operator-relationship-driven business model. It is one of the closest pure-comparable peers to Sabra in asset focus and operator diversification strategy.
• National Health Investors: National Health Investors (NYSE: NHI) is a healthcare REIT focused on senior housing and skilled nursing triple-net leases. It is a directly comparable peer in property type, lease structure, and operator relationship model.
• LTC Properties: LTC Properties (NYSE: LTC) is a healthcare REIT specializing in skilled nursing and assisted living triple-net leases. It competes directly with Sabra for SNF sale-leaseback transactions and operator relationships.
• Diversified Healthcare Trust: Diversified Healthcare Trust (NASDAQ: DHC) owns a portfolio of senior living communities and medical office buildings. It is a directly comparable peer with overlapping SHOP exposure but has faced operator credit challenges.

Broad incumbents

• Welltower: Welltower (NYSE: WELL) is the largest U.S. healthcare REIT with a senior housing operating portfolio (SHOP) and post-acute/skilled nursing exposure. It competes for the same institutional capital and operator relationships as Sabra at a much larger scale.
• Ventas: Ventas (NYSE: VTR) is a diversified healthcare REIT with senior housing, medical office, and life science exposure. It competes for senior housing and SNF investments and overlaps with Sabra in SHOP and triple-net senior housing assets.
• Healthpeak Properties: Healthpeak Properties (NYSE: DOC) is a diversified healthcare REIT with senior housing, medical office, and lab/life science exposure. It overlaps with Sabra in CCRC/senior housing and competes for institutional capital.

Emerging players

• American Healthcare REIT: American Healthcare REIT (NYSE: AHR) is a newer, growing healthcare REIT with a diversified portfolio including senior housing operating, triple-net, and medical office. It is an emerging peer competing with Sabra in SHOP acquisitions.

Regional players

• Global Medical REIT: Global Medical REIT (NYSE: GMRE) is a healthcare REIT focused on medical office buildings. While its property type is more outpatient-focused, it competes in the broader healthcare real estate investment category that institutional investors compare to Sabra.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sabra-health-care-reit-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sabra Health Care REIT