Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Stake Cut by Pensionfund Sabic

Pensionfund Sabic decreased its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,374 shares of the real estate investment trust’s stock after selling 12,000 shares during the period. Pensionfund Sabic’s holdings in Sabra Health Care REIT were worth $1,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SBRA. Family Firm Inc. acquired a new position in shares of Sabra Health Care REIT during the second quarter valued at $26,000. Neo Ivy Capital Management bought a new stake in Sabra Health Care REIT in the 4th quarter valued at about $41,000. Newbridge Financial Services Group Inc. acquired a new position in Sabra Health Care REIT during the 4th quarter valued at about $56,000. GAMMA Investing LLC grew its position in Sabra Health Care REIT by 40.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Sabra Health Care REIT in the first quarter valued at approximately $89,000. 99.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBRA has been the topic of several recent analyst reports. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Truist Financial lifted their price objective on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Scotiabank increased their target price on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $16.00 to $20.00 in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Sabra Health Care REIT Stock Performance

NASDAQ:SBRA opened at $17.74 on Friday. The firm has a market capitalization of $4.16 billion, a PE ratio of 84.48, a PEG ratio of 2.59 and a beta of 1.26. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT, Inc. has a 1 year low of $12.83 and a 1 year high of $19.32. The firm’s fifty day simple moving average is $17.45 and its 200 day simple moving average is $15.68.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). The business had revenue of $176.14 million during the quarter, compared to the consensus estimate of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. On average, sell-side analysts anticipate that Sabra Health Care REIT, Inc. will post 1.38 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date was Monday, August 19th. Sabra Health Care REIT’s dividend payout ratio is presently 571.43%.

About Sabra Health Care REIT

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing – Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.