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Sabra Health Care REIT reaffirms FY'19 outlook

Sabra Health Care REIT Inc., in reporting its second-quarter results, reaffirmed its 2019 guidance for funds from operations, normalized FFO and adjusted FFO.

The healthcare real estate investment trust previously provided full-year guidance for FFO in the range of $2.02 to $2.10 per share, normalized FFO in the range of $1.86 to $1.94 per share and AFFO between $2.00 and $2.08 per share.

The S&P Global Market Intelligence consensus FFO-per-share estimate for the year is $1.89.

The REIT said it sold 11.1 million common shares under its at-the-market program, raising gross proceeds of $217.3 million, before commissions, during the second quarter. It used the proceeds, along with funds from real estate sales, to reduce its total consolidated debt to $2.7 billion as of June 30 from $3.2 billion as of March 31.