Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) Shares Set to Pay Quarterly Dividend of $0.30

Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) declared a quarterly dividend on Monday, November 2nd. Investors of record on Friday, November 13th will be given a dividend of $0.30 per share by the real estate investment trust on Monday, November 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Friday, November 13th.

Sabra Healthcare REIT has a dividend payout ratio of 153.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Sabra Healthcare REIT to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 75.0%.

Sabra Healthcare REIT Price Performance

NASDAQ SBRA traded up $0.34 on Tuesday, reaching $20.07. The company’s stock had a trading volume of 1,704,008 shares, compared to its average volume of 2,658,420. The stock has a market cap of $5.13 billion, a PE ratio of 77.29, a PEG ratio of 1.73 and a beta of 0.63. Sabra Healthcare REIT has a twelve month low of $17.53 and a twelve month high of $22.77. The firm’s 50 day moving average is $19.86 and its two-hundred day moving average is $19.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.07 and a current ratio of 3.07.

Sabra Healthcare REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $249.57 million during the quarter, compared to analysts’ expectations of $236.64 million. Sabra Healthcare REIT had a net margin of 7.61% and a return on equity of 2.34%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. As a group, sell-side analysts predict that Sabra Healthcare REIT will post 1.52 EPS for the current year.

Insider Buying and Selling

In related news, CEO Richard Matros sold 200,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $20.83, for a total transaction of $4,166,000.00. Following the sale, the chief executive officer directly owned 1,657,686 shares in the company, valued at $34,529,599.38. This represents a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sabra Healthcare REIT

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in Sabra Healthcare REIT by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 25,052,121 shares of the real estate investment trust’s stock worth $481,755,000 after buying an additional 98,770 shares in the last quarter. Lasalle Investment Management Securities LLC raised its position in shares of Sabra Healthcare REIT by 8.2% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,824,622 shares of the real estate investment trust’s stock worth $73,547,000 after purchasing an additional 290,405 shares during the period. Dimensional Fund Advisors LP increased its holdings in Sabra Healthcare REIT by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,725,337 shares of the real estate investment trust’s stock worth $71,640,000 after purchasing an additional 269,793 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Sabra Healthcare REIT by 6.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,208,600 shares of the real estate investment trust’s stock worth $61,701,000 after purchasing an additional 203,226 shares during the last quarter. Finally, Rush Island Management LP bought a new position in Sabra Healthcare REIT in the first quarter valued at approximately $30,735,000. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Sabra Healthcare REIT Company Profile

Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company focuses primarily on properties used for skilled nursing and transitional care, senior housing, behavioral health, specialty hospitals and other healthcare services.

Sabra leases properties to healthcare operators and also provides capital through loans, joint ventures and other real estate investments. Its portfolio is designed to support a range of care settings, including facilities serving seniors, patients requiring rehabilitation and individuals receiving behavioral healthcare.

Founded in 2010 and headquartered in Irvine, California, Sabra has expanded through acquisitions, development investments and strategic transactions, including its 2017 combination with Care Capital Properties.