Orange County Business Journal

Sabra Q3 Results Mixed

Vita Reed Tuesday, October 30, 2012

Irvine-based real estate investor Sabra Health Care REIT Inc. on Monday reported mixed third-quarter results.

Sabra’s funds from operations, which are considered a better gauge of performance than profits for real estate investment trusts, rose 38% to $12.7 million.

Analysts expected Sabra’s funds from operations to come in at $14.2 million.

Revenue grew 21% to $26 million, beating analysts’ expectations of $25.7 million.

Sabra said that it spent $42.5 million to buy an independent living facility and a memory care facility in a pair of separate transactions during the quarter.

The company did not give a forecast for the current quarter or the full year 2012 in its earnings release.

Analysts look for Sabra to have funds from operations of $14.6 million on revenue of $27.8 million in the current quarter. The company’s funds from operations are seen at $54 million on $102.1 million of revenue for the full year.

Sabra owns nursing homes and other healthcare facilities.