Pacer Advisors Inc. Sells 17,638 Shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Key Points

• Pacer Advisors Inc. reduced its stake in Sabra Healthcare REIT by 32.8%, owning 36,070 shares valued at approximately $630,000 after selling 17,638 shares in the first quarter.
• Sabra Healthcare REIT reported a quarterly earnings per share (EPS) of $0.37, surpassing estimates, and its revenue of $183.54 million showed a 10.1% increase compared to the previous year.
• The company declared a quarterly dividend of $0.30, resulting in an annual yield of 6.7%, despite a high payout ratio of 203.39%.

Pacer Advisors Inc. lessened its stake in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 32.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,070 shares of the real estate investment trust's stock after selling 17,638 shares during the period. Pacer Advisors Inc.'s holdings in Sabra Healthcare REIT were worth $630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its stake in shares of Sabra Healthcare REIT by 37.8% in the first quarter. Assetmark Inc. now owns 3,607 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 989 shares during the last quarter. Journey Strategic Wealth LLC bought a new stake in Sabra Healthcare REIT during the first quarter valued at $291,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Sabra Healthcare REIT by 0.4% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 825,251 shares of the real estate investment trust's stock valued at $14,417,000 after purchasing an additional 3,020 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Sabra Healthcare REIT in the first quarter worth about $868,000. Finally, Allianz Asset Management GmbH increased its holdings in Sabra Healthcare REIT by 89.4% during the 1st quarter. Allianz Asset Management GmbH now owns 532,922 shares of the real estate investment trust's stock valued at $9,310,000 after purchasing an additional 251,595 shares during the period. Institutional investors own 99.40% of the company's stock.

Analysts Set New Price Targets

Separately, Scotiabank boosted their price target on Sabra Healthcare REIT from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $19.67.

Sabra Healthcare REIT Stock Performance

Shares of NASDAQ SBRA traded down $0.21 during midday trading on Tuesday, hitting $18.21. 2,080,810 shares of the stock traded hands, compared to its average volume of 2,424,534. The firm has a 50-day moving average of $18.16 and a two-hundred day moving average of $17.51. The firm has a market capitalization of $4.33 billion, a P/E ratio of 30.89, a PEG ratio of 1.52 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.22 and a current ratio of 4.22. Sabra Healthcare REIT, Inc. has a one year low of $15.60 and a one year high of $20.03.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Sabra Healthcare REIT had a return on equity of 5.14% and a net margin of 19.55%. The firm had revenue of $189.15 million during the quarter, compared to analyst estimates of $185.64 million. During the same period in the prior year, the business posted $0.36 EPS. Sabra Healthcare REIT's revenue was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Sabra Healthcare REIT, Inc. will post 1.45 EPS for the current fiscal year.

Insider Transactions at Sabra Healthcare REIT

In other Sabra Healthcare REIT news, Director Michael J. Foster sold 11,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $18.22, for a total value of $200,420.00. Following the completion of the sale, the director owned 64,725 shares in the company, valued at approximately $1,179,289.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

About Sabra Healthcare REIT

Sabra Health Care REIT, Inc engages in the business of acquiring, financing, and owning real estate property. The company was founded on May 10, 2010 and is headquartered in Tustin, CA.