Private Ocean LLC purchased a new position in shares of Sabra Health Care REIT Inc (NASDAQ:SBRA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,563 shares of the real estate investment trust’s stock, valued at approximately $36,000.
Other hedge funds have also modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new position in shares of Sabra Health Care REIT during the second quarter worth approximately $28,000. Centaurus Financial Inc. bought a new stake in shares of Sabra Health Care REIT during the first quarter valued at approximately $34,000. Enterprise Financial Services Corp increased its position in shares of Sabra Health Care REIT by 81.9% during the second quarter. Enterprise Financial Services Corp now owns 2,166 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 975 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in shares of Sabra Health Care REIT during the second quarter valued at approximately $54,000. Finally, CSat Investment Advisory L.P. bought a new stake in shares of Sabra Health Care REIT during the second quarter valued at approximately $116,000. Institutional investors own 89.75% of the company’s stock.
In other Sabra Health Care REIT news, Director Michael J. Foster sold 15,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $20.78, for a total value of $311,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond J. Lewis sold 58,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $21.47, for a total value of $1,245,260.00. The disclosure for this sale can be found here. Insiders have sold 186,000 shares of company stock worth $4,274,610 in the last ninety days. 1.20% of the stock is currently owned by insiders.
Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.34). Sabra Health Care REIT had a net margin of 1.53% and a return on equity of 0.31%. The firm had revenue of $149.83 million for the quarter, compared to analyst estimates of $153.39 million. As a group, equities research analysts forecast that Sabra Health Care REIT Inc will post 1.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.93%. The ex-dividend date is Thursday, November 14th. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 78.60%.
A number of research firms have recently issued reports on SBRA. Zacks Investment Research cut Sabra Health Care REIT from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. BidaskClub cut Sabra Health Care REIT from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup cut Sabra Health Care REIT from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Monday, September 23rd. TheStreet cut Sabra Health Care REIT from a “b” rating to a “c+” rating in a research report on Friday, November 1st. Finally, Bank of America began coverage on Sabra Health Care REIT in a research report on Monday, October 14th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.43.
About Sabra Health Care REIT
As of December 31, 2018, Sabra's investment portfolio included 470 real estate properties held for investment (consisting of (i) 335 Skilled Nursing/Transitional Care facilities, (ii) 90 Senior Housing communities (?Senior Housing – Leased?), (iii) 23 Senior Housing communities operated by third-party property managers pursuant to property management agreements (?Senior Housing – Managed?) and (iv) 22 Specialty Hospitals and Other facilities), one investment in a direct financing lease, 22 investments in loans receivable (consisting of (i) one mortgage loan, (ii) two construction loans, (iii) one mezzanine loan and (iv) 18 other loans), nine preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.
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