Sabra Health Care REIT’s stock was down more than 14% Wednesday as investors responded to a COVID-19 outbreak at one of its facilities, Seeking Alpha reported.
The affected facility is the Issaquah Nursing Home and Rehabilitation Center in the greater Seattle area, owned by Sabra and operated by North American Healthcare. One resident died over the weekend, and seven others — five residents and two staff members — have tested positive for the virus.
Executives at Sabra are aware of the situation and have been in contact with the operator, Michael Costa, executive vice president of finance at Sabra, told McKnight’s Wednesday.
“The facility has been working closely with the [Centers for Disease Control and Prevention] and King County Public Health officials, who evaluated and endorsed the infection control protocols the facility has in place to prevent the spread of an outbreak and it appears to be contained,” Costa said. “The facility continues to work in partnership with CDC professionals on site and continues to receive affirmation that its protocols are excellent.”
He also noted that Sabra has had no other reported incidents in its 600-plus facility portfolio.
In addition to Sabra, several other healthcare and senior living and care real estate investment trust stocks also tumbled Wednesday. Omega Healthcare Investors, Medical Properties Trust, New Senior Investment, Ventas and Welltower were among the biggest decliners.
