Irvine, CA-based Sabra Health Care REIT declared a quarterly cash dividend of 30 cents per share of common stock Wednesday, to be paid on May 29 to common stockholders of record as of the close of business on May 18. The announcement came as the firm released its 2020 first quarter earnings results.

To date, the REIT said it hasn’t seen a material disruption from the COVID-19 pandemic in the monthly payment of rents and hasn’t used any deposits or other credit enhancements for payment of rent as a result of the COVID-19 pandemic. It has, however, seen managed occupancy decline 160 basis points from its February average, based on data received from its operators.

The company reported net income attributable to common shareholders for the first quarter of 17 cents per share, compared with a net loss of 44 cents per share in the year-ago period. Total revenue for the first quarter was $149.34 million, compared with $136.77 million in the first quarter of last year. Additional McKnight’s coverage of Sabra’s first-quarter earnings can be found here.

In other earnings-related news:

  • Brentwood, TN-based Diversicare reported that, despite a strong start to the year, the company began seeing a decline in total patients served in the middle of February and that decline continued through the rest of the quarter and even through April. Diversicare reported a net loss from continuing operations of $500,000, or 8 cents per share, in the first quarter of 2020, compared with a net loss from continuing operations of $1.6 million, or 24 cents per share, in the first quarter of 2019. Additional McKnight’s coverage of Diversicare’s first-quarter earnings can be found here.
  • Toledo, OH-based Welltower declared a quarterly cash dividend of 61 cents per share of common stock Thursday, a nearly 30% decrease from the company’s prior dividend of 87 cents. The REIT noted that the reduction results in approximately $110 million of incremental cash flow retained quarterly. In its 2020 first quarter earnings release Thursday, Welltower announced that occupancy within its seniors housing operating portfolio had declined to 82.7% as of May 1, compared with 84.8% as of April 3 and 85.8% as of Feb. 28. Additional McKnight’s coverage of Welltower’s first-quarter earnings can be found here.
  • Newton, MA-based Diversified Healthcare Trust reported that its healthcare real estate performed slightly above the REIT’s internal expectations for January and February before the COVID-19 pandemic began to disrupt its operator and tenants’ businesses in March. The firm reported net income attributable to common shareholders of $9.7 million, or 4 cents per share, in the first quarter of 2020, compared with net income attributable to common shareholders of $30.1 million, or 13 cents per share, in the first quarter of 2019. Additional McKnight’s coverage of Diversified Healthcare Trust’s first-quarter earnings can be found here.
  • Newton, MA-based Five Star Senior Living reported a net loss of $17.2 million, or 55 cents per diluted share, in the first quarter, a $16 million improvement over 2019. The operator also reported occupancy declines, increased labor costs and increased costs related to medical and sanitation supplies, and expects these negative trends to continue throughout at least the second quarter. Additional McKnight’s coverage of Five Star Senior Living’s first-quarter earnings can be found here.