Core Viewpoint - The article discusses the performance of three high-yield healthcare stocks during the COVID-19 pandemic, highlighting the contrasting strategies and outcomes of Sabra Healthcare, Omega Healthcare, and Alexandria Real Estate [1][2]. Group 1: Sabra Healthcare (SBRA) - Sabra Healthcare made decisions during the pandemic that ensured its long-term survival, but it significantly cut its dividend from $0.45 to $0.30 per share, a 33% reduction, which has remained unchanged since then [4][5]. - The company generates approximately 70% of its rents from senior housing, a sector severely impacted by the pandemic, leading to challenges for income investors relying on dividends [5][6]. - Compared to other healthcare REITs that have started to raise their dividends again, Sabra is lagging behind, making it less attractive for dividend-focused investors [6]. Group 2: Omega Healthcare (OHI) - Omega Healthcare maintained its dividend at $0.67 per share since 2019, avoiding cuts during the pandemic, which is reassuring for passive income investors [8][10]. - The company reported an 8% year-over-year increase in adjusted funds from operations (FFO) in Q2 2025 and made over half a billion in investments, indicating a readiness for growth [9]. - With the recovery in the senior housing sector, Omega is positioned as a reliable high-yield option for investors, despite not expecting significant dividend increases [10]. Group 3: Alexandria Real Estate (ARE) - Alexandria Real Estate focuses on medical research office assets and has increased its dividend annually for 15 consecutive years, even during the pandemic [11]. - The REIT's occupancy rate fell from 94.6% to 90.8% in 2025, and its FFO has been weak, but the dividend remains well-covered with an FFO payout ratio of approximately 57% [12]. - Despite concerns about the office downturn and changes in the healthcare industry, Alexandria's business model is expected to endure, making it a potential high-yield investment for conservative income investors [13][14].