Sabra: 3Q Earnings Snapshot
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IRVINE, Calif. (AP) _ Sabra Healthcare REIT Inc. (SBRA) on Monday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The Irvine, California-based real estate investment trust said it had funds from operations of $97.9 million, or 55 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 62 cents per share.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $35.2 million, or 20 cents per share.
The health care real estate investment trust posted revenue of $151.8 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $162.6 million.
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Sabra expects full-year funds from operations in the range of $2.14 to $2.17 per share.
The company's shares have climbed 19 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $22.33, an increase of 16 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on SBRA at https://www.zacks.com/ap/SBRA