IRVINE, Calif., May 13, 2014 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. ("Sabra", the "Company" or "we") reaffirmed its guidance ranges for Normalized FFO and Normalized AFFO per diluted common share for the full year 2014. The reaffirmed guidance includes the impact of all investing and financing activity through May 12, 2014 (including our recently completed issuance of 8,050,000 shares of common stock and the use of the substantial majority of the proceeds thereof to repay borrowings outstanding on our revolving credit facility) and assumes that the remaining $30.1 million commitment under the Forest Park Medical Center - Fort Worth construction loan is funded with the proceeds remaining from our recently completed equity offering and available cash. No other investment or financing activities are assumed in the guidance. Commenting on the reaffirmed 2014 guidance, Rick Matros, CEO and Chairman, said, "We were able, from a timing perspective, to have the equity offering coincide with our investment activity to date, so that the dilution from the offering is effectively offset by the $166 million in investment activity to date. We also assume we'll finish out the construction financing for the Fort Worth hospital which is $30.1 million. The guidance does not include any other investment activity for the year despite our belief that our total investment activity for the year will still be in the $350-400 million range. Additionally, the equity offering allowed us to very quickly achieve our leverage ratio goal with that ratio dropping from 5.29x to 4.14x. Our capital available for investments currently stands at over $340 million inclusive of the availability under our revolving credit facility and availability under our ATM program should we choose to use that."
Sabra Health Care REIT, Inc. (Nasdaq:SBRA) (Nasdaq:SBRAP), a Maryland corporation, 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. Sabra leases properties to tenants and operators throughout the United States.
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