Latest news with #Sabra
Saba Yemen
25-05-2025
- Politics
- Saba Yemen
Bruqin Municipality Head: Zionist Settlers Seize 250 Dunams of Land
Salfit – Saba: Fayyad Sabra, head of Bruqin Municipality in Salfit Governorate, stated on Sunday that Zionist settlers have seized approximately 250 dunams (62 acres) of land in the eastern areas of the town. Sabra added that residents of these areas have relocated to safer locations due to repeated settler attacks, carried out under the protection of Israeli occupation forces, according to the Palestinian news agency "Safa." He highlighted the absence of ambulance or firefighting vehicles in Bruqin, noting: "When fires break out, emergency and civil defense teams have to come from Salfit to Bruqin—by which time the fires have already burned out." Sabra emphasized that no compensation has been provided to citizens for burned homes, vehicles, or other attacks. Over recent days, the town has faced repeated assaults by Zionist settlers, including arson attacks on homes and cars, amid heavy military presence by occupation forces. According to a report by the Anti-Wall and Settlement Resistance Commission, Israeli forces and settlers carried out 1,693 attacks in April alone, continuing their campaign of state-sponsored terrorism against Palestinians, their lands, and properties Whatsapp Telegram Email Print more of (International)
Yahoo
19-05-2025
- Business
- Yahoo
U.S. Hummus Market Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032: Mediterranean Cuisine & Rising Popularity Propels Expansion, Sabra and Tribe Innovate with Bold Flavors
The U.S. hummus market is set to grow from $1.08 billion in 2025 to $1.86 billion by 2032, at an 8.0% CAGR. Driven by rising demand for healthy, plant-based snacks, major brands like Sabra and Tribe offer innovative flavors and on-the-go solutions. The surge in Mediterranean cuisine boosts this trend. Dublin, May 19, 2025 (GLOBE NEWSWIRE) -- The "U.S. Hummus Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2032 - By Product, Technology, Grade, Application, End-user, Country: (U.S.)" has been added to offering. The market is anticipated to climb from a value of US$ 1.08 billion in 2025 to US$ 1.86 billion by 2032, with a steady CAGR of 8.0% forecasted between 2025 and 2032. The U.S. hummus market is on a promising upward trend, fueled by a rising demand for plant-based, health-focused, and convenient food options. Increasing consumer attention toward ethical sourcing, functional ingredients, and international culinary influences has transformed hummus from a niche ethnic dip into a mainstream staple. Market Insights Hummus has gained significant popularity among U.S. consumers, particularly millennials, due to its versatility, nutritional benefits, and compatibility with various dietary preferences, including vegan and vegetarian lifestyles. Widely used as a dip, spread, or meal component, hummus is a nutritious alternative to traditional snacks, enriched with protein, fiber, and essential nutrients. Prominent brands like Sabra and Tribe are tapping into this growth by offering diverse flavors, from classic garlic to bold innovations like cocoa and dessert-style hummus. The appetite for adventurous flavors and convenient snack solutions continues to drive market growth. Market Drivers The U.S. hummus market is spurred by an expanding consumer base seeking healthier snack options, consciously avoiding processed and calorie-laden products. With its high protein content, clean-label advantages, and plant-based recipe, hummus is ideally positioned. The surge in vegan and vegetarian dietary patterns complements the rising demand for such dips. Also propelling market growth is the burgeoning appreciation for Mediterranean cuisine in the U.S. Culinary exploration, especially among younger demographics, has spotlighted hummus as a go-to choice for globally inspired foods. Dining venues and meal kits featuring hummus are further embedding it into regular consumption habits. Business Opportunity The market offers substantial opportunities for innovation in product diversification and packaging. Companies are launching single-serve, portion-controlled packs that meet increasing convenience demands, appealing to fitness enthusiasts and on-the-go professionals. There's also a trend towards functional hummus products, enriched with superfoods and nutrients like turmeric and kale, targeting health-conscious consumers seeking additional nutritional benefits. Brands are aligning with the clean-label movement, emphasizing ingredient transparency and utilizing organic and non-GMO ingredients, resonating with consumers prioritizing health, sustainability, and authenticity. Regional Analysis The U.S. hummus market is experiencing balanced growth across major regions, including the West, Midwest, Southwest, Southeast, and Northeast. The West and Northeast U.S. regions remain strongholds due to higher consumer awareness and a health-conscious populous. Emerging markets in the South and Midwest are seeing new opportunities as distribution channels increase and consumer preferences evolve. Key Players The market features a blend of established players and dynamic startups. Companies like Lakeview Farms, LLC, Hope Foods, LLC, Nestle S.A., Strauss Group, Cedar's Mediterranean Foods, Inc., and Lantana Foods are pivotal in shaping market trends. These companies are heavily investing in R&D to develop unique flavors, functional products, and sustainable packaging. Major corporations like Nestle are expanding their reach through strategic partnerships with retail giants, while smaller brands focus on premium ingredients and distinctive flavors targeting niche consumer segments. Challenges in the Market Despite optimistic growth, the hummus market faces competition from other plant-based dips and spreads. Consumers are increasingly exploring alternatives like guacamole, nut-based dips, and black bean spreads, necessitating continuous innovation in flavor and function, alongside a commitment to transparency and sustainability. Conclusion Driven by health consciousness, plant-based diet trends, and global culinary inspiration, the U.S. hummus market is poised for significant growth. With an 8.0% projected CAGR from 2025 to 2032, the industry offers robust prospects for innovation, expansion, and consumer engagement. Key Topics Covered: Executive Summary U.S. Hummus Market Snapshot Future Projections Key Market Trends Regional Snapshot, by Value, 2025 Analyst Recommendations Market Overview Market Definitions and Segmentations Market Dynamics Drivers Restraints Market Opportunities Value Chain Analysis Porter's Five Forces Analysis COVID-19 Impact Analysis Impact Of Ukraine-Russia Conflict Economic Overview World Economic Projections Pestle Analysis U.S. Hummus Market Outlook, 2019-2032 U.S. Hummus Market Outlook, by Type, Value (US$ Mn) 2019-2032 U.S. Hummus Market Outlook, by Nature, Value (US$ Mn) 2019-2032 U.S. Hummus Market Outlook, by Sales Channel, Value (US$ Mn) 2019-2032 Competitive Landscape Company Market Share Analysis, 2025 Competitive Dashboard Company Profiles Cedar's Mediterranean Foods, Inc. Haliburton International Foods, Inc. Hope Foods, LLC Strauss Group Boar's Head Brand Zacca Hummus Lakeview Farms, LLC Nestle S.A. Lantana Foods Bakkavor Group Plc For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Business Wire
05-05-2025
- Business
- Business Wire
Sabra Reports First Quarter 2025 Results; Reiterates 2025 Guidance
TUSTIN, Calif.--(BUSINESS WIRE)--Sabra Health Care REIT, Inc. ('Sabra,' the 'Company' or 'we') (Nasdaq: SBRA) today announced its results of operations for the first quarter of 2025. A conference call with a simultaneous webcast to discuss the 2025 first quarter results will be held on Tuesday, May 6, 2025, at 10:00 am Pacific Time. The webcast URL is Share EBITDARM Coverage Summary: Skilled Nursing/Transitional Care: 2.19x Senior Housing - Leased: 1.41x Behavioral Health, Specialty Hospitals and Other: 3.77x Same store managed senior housing Cash NOI increased 16.9% on a year-over-year basis. During the first quarter of 2025, Sabra exercised its option to acquire the second phase of its Legacy Living Jasper senior housing campus for $7.8 million. The investment was added to the existing Legacy Living master lease with an initial cash yield of 7.5%. Sabra has been awarded over $200 million of newer vintage senior housing acquisition opportunities with an estimated average initial cash yield in the high 7% range, and expects to close on these investments in the near term, pending satisfactory completion of due diligence. 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 the forward sales agreements under its at-the-market equity offering program ('ATM program'). During the first quarter of 2025, Sabra utilized the forward feature under the ATM program to allow for the sale of up to 4.9 million shares at an initial weighted average price of $17.32 per share, net of commissions. As of March 31, 2025, 6.4 million shares remained outstanding under the forward sale agreements, with an initial weighted average price of $17.32 per share, net of commissions. On April 30, 2025, Fitch Ratings ('Fitch') affirmed Sabra's 'BBB-' credit rating with a Stable Outlook, citing the Company's adequate leverage, strong liquidity, continued growth in its senior housing managed portfolio, and improved portfolio-level lease coverage. As of March 31, 2025, Net Debt to Adjusted EBITDA was 5.19x. On May 5, 2025, 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 30, 2025, to common stockholders of record as of the close of business on May 16, 2025. Commenting on the first quarter's results, Rick Matros, CEO and Chair, said, 'As expected, we are seeing real traction on deal flow of newer vintage assets with attractive yields as we continue to grow our senior housing managed portfolio. We are still not seeing much in the way of high-quality skilled nursing opportunities but remain focused on making skilled investments as opportunities arise. Our senior housing managed portfolio again showed robust year over year growth. Our triple-net skilled nursing and senior housing portfolios hit post-pandemic rent coverage highs. Leverage ticked down again and we have ample liquidity available. We are grateful for the resilience and hard work of our operators, which has positioned them to proactively invest in their businesses, and we are optimistic about what lies ahead.' LIQUIDITY As of March 31, 2025, we had approximately $1.1 billion of liquidity, consisting of unrestricted cash and cash equivalents of $22.7 million, available borrowings under our revolving credit facility of $917.3 million and $110.5 million related to shares outstanding under forward sale agreements under our ATM program. As of March 31, 2025, we also had $297.7 million available under the ATM program. A conference call with a simultaneous webcast to discuss the 2025 first quarter results will be held on Tuesday, May 6, 2025, at 10:00 am Pacific Time. The webcast URL is 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 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 As of March 31, 2025, Sabra's investment portfolio included 364 real estate properties held for investment (consisting of (i) 224 skilled nursing/transitional care facilities, (ii) 39 senior housing communities ('senior housing - leased'), (iii) 69 senior housing communities operated by third-party property managers pursuant to property management agreements ('senior housing - managed'), (iv) 17 behavioral health facilities and (v) 15 specialty hospitals and other facilities), 15 investments in loans receivable (consisting of three mortgage loans and 12 other loans), four preferred equity investments and two investments in unconsolidated joint ventures. As of March 31, 2025, Sabra's real estate properties held for investment included 37,075 beds/units, spread across the United States and Canada. This release contains 'forward-looking' statements as defined in the Private Securities Litigation Reform Act of 1995. Any statements that do not relate to historical or current facts or matters are forward-looking statements. These statements may be identified, without limitation, by the use of 'expects,' 'believes,' 'intends,' 'should' or comparable terms or the negative thereof. Examples of forward-looking statements include all statements regarding our other expectations regarding our future financial position (including our earnings guidance for 2025, as well as the assumptions set forth therein); our expectations regarding our results of operations, cash flows, liquidity, business strategy, growth opportunities, potential investments and dispositions; our expectations regarding our investment activity, including the expected funding for such investments; and our plans and objectives for future operations and capital raising activity. Our actual results may differ materially from those projected or contemplated by our forward-looking statements as a result of various factors, including, among others, the following: the ability to reach a definitive agreement for awarded investments and our ability to close such acquisitions on the expected terms or at all; increased labor costs and labor shortages; increases in market interest rates and inflation; pandemics or epidemics, such as COVID-19, and the related impact on our tenants, borrowers and senior housing - managed communities; operational risks with respect to our senior housing - managed communities; competitive conditions in our industry; the loss of key management personnel; uninsured or underinsured losses affecting our properties; potential impairment charges and adjustments related to the accounting of our assets; the potential variability of our reported rental and related revenues as a result of Accounting Standards Update ('ASU') 2016-02, Leases, as amended by subsequent ASUs; risks associated with our investment in our unconsolidated joint ventures; catastrophic weather and other natural or man-made disasters, the effects of climate change on our properties and a failure to implement sustainable and energy-efficient measures; increased operating costs and competition for our tenants, borrowers and senior housing - managed communities; increased healthcare regulation and enforcement; our tenants' dependency on reimbursement from governmental and other third-party payor programs; the effect of our tenants, operators or borrowers declaring bankruptcy or becoming insolvent; our ability to find replacement tenants and the impact of unforeseen costs in acquiring new properties; the impact of litigation and rising insurance costs on the business of our tenants; the impact of required regulatory approvals of transfers of healthcare properties; environmental compliance costs and liabilities associated with real estate properties we own; our tenants', borrowers' or operators' failure to adhere to applicable privacy and data security laws; a material breach of our or our tenants', borrowers' or operators' information technology; our concentration in the healthcare property sector, particularly in skilled nursing/transitional care facilities and senior housing communities, which makes our profitability more vulnerable to a downturn in a specific sector than if we were investing in multiple industries; the significant amount of and our ability to service our indebtedness; covenants in our debt agreements that may restrict our ability to pay dividends, make investments, incur additional indebtedness and refinance indebtedness on favorable terms; adverse changes in our credit ratings; our ability to make dividend distributions at expected levels; our ability to raise capital through equity and debt financings; changes and uncertainty in macroeconomic conditions and disruptions in the financial markets; risks associated with our ownership of property outside the U.S., including currency fluctuations; the relatively illiquid nature of real estate investments; our ability to maintain our status as a real estate investment trust ('REIT') under the federal tax laws; compliance with REIT requirements and certain tax and tax regulatory matters related to our status as a REIT; changes in tax laws and regulations affecting REITs; the ownership limits and takeover defenses in our governing documents and under Maryland law, which may restrict change of control or business combination opportunities; and the exclusive forum provisions in our bylaws. Additional information concerning risks and uncertainties that could affect our business can be found in our filings with the Securities and Exchange Commission (the 'SEC'), including in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024. We do not intend, and we undertake no obligation, to update any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, unless required by law to do so. TENANT AND BORROWER INFORMATION This release includes information regarding certain of our tenants that lease properties from us and our borrowers, most of which are not subject to SEC reporting requirements. The information related to our tenants and borrowers that is provided in this release has been provided by, or derived from information provided by, such tenants and borrowers. We have not independently verified this information. We have no reason to believe that such information is inaccurate in any material respect. We are providing this data for informational purposes only. NOTE REGARDING NON-GAAP FINANCIAL MEASURES This release includes the following financial measures defined as non-GAAP financial measures by the SEC: Net Debt to Adjusted EBITDA, funds from operations ('FFO'), Normalized FFO, Adjusted FFO ('AFFO'), Normalized AFFO, FFO per diluted common share, Normalized FFO per diluted common share, AFFO per diluted common share, Normalized AFFO per diluted common share, net operating income ('NOI') and Cash NOI. These measures may be different than non-GAAP financial measures used by other companies, and the presentation of these measures is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with U.S. generally accepted accounting principles. An explanation of these non-GAAP financial measures is included under 'Reporting Definitions' in this release, and reconciliations of these non-GAAP financial measures to the GAAP financial measures we consider most comparable are included on the Investors section of our website at (1) See the following page for additional details regarding rental and related revenues. Expand SABRA HEALTH CARE REIT, INC. (in thousands) Three Months Ended March 31, 2025 2024 Cash rental income $ 90,071 $ 89,036 Straight-line rental income 723 1,119 Write-offs of cash and straight-line rental income receivable and lease intangibles 566 (2,921 ) Above/below market lease amortization 1,139 1,211 Operating expense recoveries 3,538 3,331 Rental and related revenues $ 96,037 $ 91,776 Expand SABRA HEALTH CARE REIT, INC. CONSOLIDATED BALANCE SHEETS (dollars in thousands, except per share data) December 31, 2024 Assets Loans receivable and other investments, net 444,151 442,584 Investment in unconsolidated joint ventures 120,838 121,803 Cash and cash equivalents 22,653 60,468 Restricted cash 6,244 5,871 Lease intangible assets, net 24,817 27,464 Accounts receivable, prepaid expenses and other assets, net 126,384 131,755 Total assets $ 5,233,198 $ 5,303,679 Liabilities Secured debt, net $ 44,811 $ 45,316 Revolving credit facility 82,684 106,554 Term loans, net 530,194 529,753 Senior unsecured notes, net 1,736,213 1,736,025 Accounts payable and accrued liabilities 112,067 117,896 Lease intangible liabilities, net 24,997 26,847 Total liabilities 2,530,966 2,562,391 Equity Preferred stock, $0.01 par value; 10,000,000 shares authorized, zero shares issued and outstanding as of March 31, 2025 and December 31, 2024 — — Common stock, $0.01 par value; 500,000,000 shares authorized, 237,936,460 and 237,586,882 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 2,379 2,376 Additional paid-in capital 4,591,907 4,592,605 Cumulative distributions in excess of net income (1,907,266 ) (1,874,633 ) Accumulated other comprehensive income 15,212 20,940 Total equity 2,702,232 2,741,288 Total liabilities and equity $ 5,233,198 $ 5,303,679 Expand SABRA HEALTH CARE REIT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net income $ 40,304 $ 26,254 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 43,494 42,914 Non-cash rental and related revenues (2,428 ) 591 Non-cash interest income 4 7 Non-cash interest expense 1,729 3,071 Stock-based compensation expense 2,711 2,521 Recovery of loan losses (173 ) (137 ) Impairment of real estate — 3,137 (Income) loss from unconsolidated joint ventures (218 ) 595 Distributions of earnings from unconsolidated joint ventures 2,368 1,478 Changes in operating assets and liabilities: Accounts receivable, prepaid expenses and other assets, net (2,822 ) (6,288 ) Accounts payable and accrued liabilities (4,706 ) (21,348 ) Net cash provided by operating activities 80,263 52,795 Cash flows from investing activities: Acquisition of real estate (7,854 ) — Origination and fundings of loans receivable (1,710 ) (102 ) Origination and fundings of preferred equity investments (9 ) (1,007 ) Additions to real estate (7,783 ) (12,935 ) Repayments of loans receivable 1,129 391 Repayments of preferred equity investments 813 617 Investment in unconsolidated joint ventures (1,030 ) (188 ) Net cash used in investing activities (16,444 ) (13,224 ) Cash flows from financing activities: Net (repayments of) borrowings from revolving credit facility (23,881 ) 52,404 Principal payments on secured debt (517 ) (503 ) Payments of deferred financing costs (80 ) (80 ) Issuance of common stock, net (5,391 ) (2,606 ) Dividends paid on common stock (71,373 ) (69,444 ) Net cash used in financing activities (101,242 ) (20,229 ) Net (decrease) increase in cash, cash equivalents and restricted cash (37,423 ) 19,342 Effect of foreign currency translation on cash, cash equivalents and restricted cash (19 ) (131 ) Cash, cash equivalents and restricted cash, beginning of period 66,339 46,719 Cash, cash equivalents and restricted cash, end of period $ 28,897 $ 65,930 Supplemental disclosure of cash flow information: Interest paid $ 20,233 $ 20,495 Expand SABRA HEALTH CARE REIT, INC. FUNDS FROM OPERATIONS (FFO), NORMALIZED FFO, ADJUSTED FUNDS FROM OPERATIONS (AFFO) AND NORMALIZED AFFO (dollars in thousands, except per share data) Three Months Ended March 31, 2025 2024 Net income $ 40,304 $ 26,254 Add: Depreciation and amortization of real estate assets 43,494 42,914 Depreciation and amortization of real estate assets related to unconsolidated joint ventures 2,180 2,229 Impairment of real estate — 3,137 FFO $ 85,978 $ 74,534 Write-offs of cash and straight-line rental income receivable and lease intangibles (566 ) 2,921 Recovery of loan losses (173 ) (137 ) Other normalizing items (1) 2 1,121 Normalized FFO $ 85,241 $ 78,439 FFO $ 85,978 $ 74,534 Stock-based compensation expense 2,711 2,521 Non-cash rental and related revenues (2,428 ) 591 Non-cash interest expense 1,729 3,071 Recovery of loan losses (173 ) (137 ) Other adjustments related to unconsolidated joint ventures (109 ) 153 Other adjustments 446 417 AFFO $ 88,154 $ 81,150 Other normalizing items (1) 84 1,106 Normalized AFFO $ 88,238 $ 82,256 Amounts per diluted common share: Net income $ 0.17 $ 0.11 FFO $ 0.36 $ 0.32 Normalized FFO $ 0.35 $ 0.34 AFFO $ 0.37 $ 0.35 Normalized AFFO $ 0.37 $ 0.35 Weighted average number of common shares outstanding, diluted: Net income, FFO and Normalized FFO 240,295,817 233,365,031 AFFO and Normalized AFFO 241,513,735 234,671,379 Expand (1) Other normalizing items for FFO and AFFO primarily include triple-net operating expenses, net of recoveries. Expand REPORTING DEFINITIONS Adjusted EBITDA* Adjusted EBITDA is calculated as earnings before interest, taxes, depreciation and amortization ('EBITDA') excluding the impact of merger-related costs, stock-based compensation expense under the Company's long-term equity award program, and loan loss reserves. Adjusted EBITDA is an important non-GAAP supplemental measure of operating performance. Behavioral Health Includes behavioral hospitals that provide inpatient and outpatient care for patients with mental health conditions, chemical dependence or substance addictions and addiction treatment centers that provide treatment services for chemical dependence and substance addictions, which may include inpatient care, outpatient care, medical detoxification, therapy and counseling. Cash Net Operating Income ('Cash NOI')* The Company believes that net income as defined by GAAP is the most appropriate earnings measure. The Company considers Cash NOI an important supplemental measure because it allows investors, analysts and its management to evaluate the operating performance of its investments. The Company defines Cash NOI as total revenues less operating expenses and non-cash revenues and expenses. Cash NOI excludes all other financial statement amounts included in net income. EBITDARM Earnings before interest, taxes, depreciation, amortization, rent and management fees ('EBITDARM') for a particular facility accruing to the operator/tenant of the property (not the Company), for the period presented. The Company uses EBITDARM in determining EBITDARM Coverage. EBITDARM has limitations as an analytical tool. EBITDARM does not reflect historical cash expenditures or future cash requirements for facility capital expenditures or contractual commitments. In addition, EBITDARM does not represent a property's net income or cash flows from operations and should not be considered an alternative to those indicators. The Company utilizes EBITDARM to evaluate the core operations of the properties by eliminating management fees, which may vary by operator/tenant and operating structure, and as a supplemental measure of the ability of the Company's operators/tenants and relevant guarantors to generate sufficient liquidity to meet related obligations to the Company. EBITDARM Coverage Represents the ratio of EBITDARM to cash rent for owned facilities (excluding Senior Housing - Managed communities) for the period presented. EBITDARM Coverage is a supplemental measure of a property's ability to generate cash flows for the operator/tenant (not the Company) to meet the operator's/tenant's related cash rent and other obligations to the Company. However, its usefulness is limited by, among other things, the same factors that limit the usefulness of EBITDARM. EBITDARM Coverage includes only Stabilized Facilities and excludes facilities for which data is not available or meaningful. Funds From Operations ('FFO') and Adjusted Funds from Operations ('AFFO')* The Company believes that net income as defined by GAAP is the most appropriate earnings measure. The Company also believes that funds from operations, or FFO, as defined in accordance with the definition used by the National Association of Real Estate Investment Trusts ('Nareit'), and adjusted funds from operations, or AFFO (and related per share amounts) are important non-GAAP supplemental measures of the Company's operating performance. Because the historical cost accounting convention used for real estate assets requires straight-line depreciation (except on land), such accounting presentation implies that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market and other conditions, presentations of operating results for a real estate investment trust that uses historical cost accounting for depreciation could be less informative. Thus, Nareit created FFO as a supplemental measure of operating performance for real estate investment trusts that excludes historical cost depreciation and amortization, among other items, from net income, as defined by GAAP. FFO is defined as net income, computed in accordance with GAAP, excluding gains or losses from real estate dispositions and the Company's share of gains or losses from real estate dispositions related to its unconsolidated joint ventures, plus real estate depreciation and amortization, net of amounts related to noncontrolling interests, plus the Company's share of depreciation and amortization related to its unconsolidated joint ventures, and real estate impairment charges of both consolidated and unconsolidated entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. AFFO is defined as FFO excluding stock-based compensation expense, non-cash rental and related revenues, non-cash interest income, non-cash interest expense, non-cash portion of loss on extinguishment of debt, provision for (recovery of) loan losses and other reserves, non-cash lease termination income and deferred income taxes, as well as other non-cash revenue and expense items (including noncapitalizable acquisition costs, transaction costs related to operator transitions and organizational or other restructuring activities, ineffectiveness gain/loss on derivative instruments, and non-cash revenue and expense amounts related to noncontrolling interests) and the Company's share of non-cash adjustments related to its unconsolidated joint ventures. The Company believes that the use of FFO and AFFO (and the related per share amounts), combined with the required GAAP presentations, improves the understanding of the Company's operating results among investors and makes comparisons of operating results among real estate investment trusts more meaningful. The Company considers FFO and AFFO to be useful measures for reviewing comparative operating and financial performance because, by excluding the applicable items listed above, FFO and AFFO can help investors compare the operating performance of the Company between periods or as compared to other companies. While FFO and AFFO are relevant and widely used measures of operating performance of real estate investment trusts, they do not represent cash flows from operations or net income as defined by GAAP and should not be considered an alternative to those measures in evaluating the Company's liquidity or operating performance. FFO and AFFO also do not consider the costs associated with capital expenditures related to the Company's real estate assets nor do they purport to be indicative of cash available to fund the Company's future cash requirements. Further, the Company's computation of FFO and AFFO may not be comparable to FFO and AFFO reported by other real estate investment trusts that do not define FFO in accordance with the current Nareit definition or that interpret the current Nareit definition or define AFFO differently than the Company does. Investment Represents the carrying amount of real estate assets after adding back accumulated depreciation and amortization and excludes net intangible assets and liabilities. Net Debt* The principal balances of the Company's revolving credit facility, term loans, senior unsecured notes, and secured indebtedness as reported in the Company's consolidated financial statements, net of cash and cash equivalents as reported in the Company's consolidated financial statements. Net Debt to Adjusted EBITDA* Net Debt to Adjusted EBITDA is calculated as Net Debt divided by Annualized Adjusted EBITDA, which is Adjusted EBITDA, as adjusted for annualizing adjustments that give effect to the acquisitions and dispositions completed during the respective period as though such acquisitions and dispositions were completed as of the beginning of the period presented. Net Operating Income ('NOI')* The Company believes that net income as defined by GAAP is the most appropriate earnings measure. The Company considers NOI an important supplemental measure because it allows investors, analysts and its management to evaluate the operating performance of its investments. The Company defines NOI as total revenues less operating expenses. NOI excludes all other financial statement amounts included in net income. Normalized FFO and Normalized AFFO* Normalized FFO and Normalized AFFO represent FFO and AFFO, respectively, adjusted for certain income and expense items that the Company does not believe are indicative of its ongoing operating results. The Company considers Normalized FFO and Normalized AFFO to be useful measures to evaluate the Company's operating results excluding these income and expense items to help investors compare the operating performance of the Company between periods or as compared to other companies. Normalized FFO and Normalized AFFO do not represent cash flows from operations or net income as defined by GAAP and should not be considered an alternative to those measures in evaluating the Company's liquidity or operating performance. Normalized FFO and Normalized AFFO also do not consider the costs associated with capital expenditures related to the Company's real estate assets nor do they purport to be indicative of cash available to fund the Company's future cash requirements. Further, the Company's computation of Normalized FFO and Normalized AFFO may not be comparable to Normalized FFO and Normalized AFFO reported by other real estate investment trusts that do not define FFO in accordance with the current Nareit definition or that interpret the current Nareit definition or define FFO and AFFO or Normalized FFO and Normalized AFFO differently than the Company does. Senior Housing Senior Housing communities include independent living, assisted living, continuing care retirement and memory care communities. Senior Housing - Managed Senior Housing communities operated by third-party property managers pursuant to property management agreements. Skilled Nursing/Transitional Care Skilled Nursing/Transitional Care facilities include skilled nursing, transitional care, multi-license designation and mental health facilities. Specialty Hospitals and Other Includes acute care, long-term acute care and rehabilitation hospitals, facilities that provide residential services, which may include assistance with activities of daily living, and other facilities not classified as Skilled Nursing/Transitional Care, Senior Housing or Behavioral Health. Stabilized Facility At the time of acquisition, the Company classifies each facility as either stabilized or non-stabilized. In addition, the Company may classify a facility as non-stabilized after acquisition. Circumstances that could result in a facility being classified as non-stabilized include newly completed developments, facilities undergoing major renovations or additions, facilities being repositioned or transitioned to new operators, and significant transitions within the tenants' business model. Such facilities are typically reclassified to stabilized upon the earlier of maintaining consistent performance or 24 months after the date of classification as non-stabilized. Stabilized Facilities generally exclude (i) facilities held for sale, (ii) strategic disposition candidates, (iii) facilities being transitioned to a new operator, (iv) facilities being transitioned from being leased by the Company to being operated by the Company and (v) leased facilities acquired during the three months preceding the period presented. *Non-GAAP Financial Measures Reconciliations, definitions and important discussions regarding the usefulness and limitations of the Non-GAAP Financial Measures used in this release can be found at
Yahoo
28-04-2025
- Business
- Yahoo
Trusted Soda Company Makes Troubling Announcement
A trusted soda company is warning about the troubling impact of tariffs on its bottom line. According to The Associated Press, PepsiCo "lowered its full-year earnings expectations" because of concern over tariffs and less consumer spending. The company also makes Frito-Lay snack items. It expects "its core earnings per share to be even with last year," AP reported, which is less than the previously expected "mid-single-digit percentage growth." According to AP, the culprit is a 25% tariff on "imported aluminum," which is affecting PepsiCo and other soda companies. However, the soda company is hoping to "adjust sourcing to mitigate higher costs," Reuters reported. PepsiCo gets its soda concentrate from Ireland, according to The Wall Street Journal. According to CNBC, part of the issue is that shoppers are curtailing their spending, especially on snack items. Pepsi described consumers as "subdued," CNBC reported. 'As we look ahead, we expect more volatility and uncertainty, particularly related to global trade developments, which we expect will increase our supply chain costs,' Pepsi CEO Ramon Laguarta said in an April 24 statement, according to CNBC. 'At the same time, consumer conditions in many 'Consumers have remained value‐conscious across brands and channels as the cumulative impacts of inflationary pressures have strained budgets and altered food shopping patterns,' Laguarta and CFO Jamie Caulfield said in the statement, according to CNBC. The network reported that PepsiCo is looking to expand some of its product lines, such as Simply, Sabra and Siete. It is also getting rid of "artificial colors" in Lay's and Tostito's products, CNBC in to access your portfolio
Associated Press
24-03-2025
- Business
- Associated Press
Sabra Health Care REIT, Inc. Announces Chief Investment Officer Transition
Sabra Health Care REIT, Inc. ('Sabra') (Nasdaq: SBRA) today announced that Talya Nevo-Hacohen, Sabra's Chief Investment Officer, Treasurer and Executive Vice President, has decided to retire effective December 31, 2025 and Darrin Smith, Sabra's Executive Vice President, Investments, is expected to be elevated to the role of Sabra's Chief Investment Officer effective January 1, 2026. Ms. Nevo-Hacohen is expected to remain in a consulting role with Sabra pursuant to a two-year consulting arrangement. Commenting on the CIO transition, Sabra's Chief Executive Officer, President and Chair of the Board, Rick Matros, said, 'Talya has been a critical part of our leadership team since our formation in 2010. Her dedication and exceptional contributions have been invaluable to Sabra's success. She helped build, mentor and lead an incredible team of investment professionals. Thanks to her commitment and leadership, we are well positioned for her upcoming transition to Darrin as our new CIO. Darrin has over 30 years of real estate experience, and his extensive expertise and commitment make him an excellent fit. Darrin has been influential in enhancing the capabilities of our investment team in his five years with Sabra, and we anticipate a seamless transition. The Sabra team and Board look forward to seeing the innovative ideas and leadership he will bring to the table.' Commenting on her retirement, Ms. Nevo-Hacohen said, 'Building Sabra into a $6.5 billion enterprise with 399 investments from a newly formed REIT with 86 properties leased to a single tenant, has been an incredible journey. I am grateful for the opportunity that I have had to develop personally and professionally as the organization and portfolio have grown. And now, I am excited to pass the baton to Darrin and the rest of our talented and dedicated team and look forward to watching them innovate and drive the evolution of Sabra in the years to come.' About Sabra Sabra operates as a self-administered, self-managed real estate investment trust (a 'REIT') that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada. SOURCE: Sabra Health Care REIT, Inc. Copyright Business Wire 2025. PUB: 03/24/2025 09:20 AM/DISC: 03/24/2025 09:22 AM
