Sabra Healthcare REIT (NASDAQ:SBRA) Director Michael Foster Sells 10,000 Shares of Stock

Key Points

• Sabra Healthcare REIT director Michael Foster sold 10,000 shares for $209,800, reducing his stake by 12.07%; he retained 72,834 shares after the sale.
• Quarterly earnings per share of $0.11 missed analysts’ $0.16 estimate, while revenue rose 31.4% year over year to $249.57 million.
• Sabra declared a quarterly dividend of $0.30 per share, equivalent to a 5.8% yield; analysts’ consensus rating was “Moderate Buy,” with a $21.67 price target.

Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Get Free Report) Director Michael Foster sold 10,000 shares of the business's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $20.98, for a total transaction of $209,800.00. Following the transaction, the director owned 72,834 shares of the company's stock, valued at $1,528,057.32. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sabra Healthcare REIT Price Performance

Shares of SBRA stock traded down $0.23 on Thursday, reaching $20.73. The company's stock had a trading volume of 602,138 shares, compared to its average volume of 2,682,900. The company has a market capitalization of $5.43 billion, a P/E ratio of 74.06, a PEG ratio of 1.86 and a beta of 0.68. Sabra Healthcare REIT, Inc. has a 12-month low of $17.53 and a 12-month high of $22.77. The stock's 50 day simple moving average is $19.90 and its 200-day simple moving average is $20.03. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.86.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last announced its earnings results on Monday, November 2nd. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). Sabra Healthcare REIT had a net margin of 7.78% and a return on equity of 2.55%. The company had revenue of $249.57 million during the quarter, compared to analysts' expectations of $236.64 million. During the same period in the prior year, the business earned $0.38 earnings per share. The company's revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, equities analysts predict that Sabra Healthcare REIT, Inc. will post 1.52 earnings per share for the current fiscal year.

Sabra Healthcare REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 5.8%. Sabra Healthcare REIT's dividend payout ratio (DPR) is 428.57%.

Hedge Funds Weigh In On Sabra Healthcare REIT

Several institutional investors and hedge funds have recently made changes to their positions in the business. GSI Capital Advisors LLC lifted its stake in Sabra Healthcare REIT by 68.4% in the third quarter. GSI Capital Advisors LLC now owns 578,182 shares of the real estate investment trust's stock worth $11,402,000 after purchasing an additional 234,914 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Sabra Healthcare REIT by 1.5% during the third quarter. Resona Asset Management Co. Ltd. now owns 112,347 shares of the real estate investment trust's stock valued at $2,222,000 after buying an additional 1,712 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Sabra Healthcare REIT in the third quarter worth about $3,463,000. Private Advisor Group LLC purchased a new position in shares of Sabra Healthcare REIT in the third quarter worth about $811,000. Finally, Ieq Capital LLC purchased a new position in shares of Sabra Healthcare REIT in the third quarter worth about $1,534,000. Institutional investors own 99.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Sabra Healthcare REIT from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Sabra Healthcare REIT from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, November 3rd. Robert W. Baird lifted their price target on Sabra Healthcare REIT from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, August 31st. Citigroup reiterated a "market outperform" rating on shares of Sabra Healthcare REIT in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their price objective on Sabra Healthcare REIT from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.67.

About Sabra Healthcare REIT

Sabra Health Care REIT, Inc. is a real estate investment trust that owns and invests in properties used to provide healthcare and senior living services. Its portfolio includes skilled nursing and transitional care facilities, senior housing communities, behavioral health facilities, and specialty hospitals. Sabra generally leases its properties to healthcare and senior living operators, providing real estate that supports their services. The company's properties are located in the United States and Canada.

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