Sabra Health Care presents at NAREIT

• What separates players like Sabra (NASDAQ:SBRA) from the "Big 3" (Welltower, HCP, Ventas) in terms of acquiring an investment grade rating from the credit agencies? Size and diversification, says Sabra.
• Presentation slides
• The company's net debt to adjusted EBITDA, interest coverage ratio, fixed charge coverage ratio, and secured debt to gross asset value are all within the range of what the Big 3 have. Sabra's credit rating, however, remains below that of investment grade, while the larger players enjoy BBB+ ratings.
• The company takes note of its diversification efforts, with 55.1% of revenue today coming from skilled nursing/transitional care vs. 94.6% five years ago. Private pay sources make up 53.4% of revenue vs. 23.7% five years ago.