State Street Corp Decreases Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

State Street Corp decreased its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,690,400 shares of the real estate investment trust’s stock after selling 123,492 shares during the period. State Street Corp’s holdings in Sabra Health Care REIT were worth $217,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Sabra Health Care REIT by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock worth $401,479,000 after acquiring an additional 167,069 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Sabra Health Care REIT by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,701,881 shares of the real estate investment trust’s stock valued at $87,502,000 after purchasing an additional 365,855 shares during the period. LSV Asset Management lifted its stake in shares of Sabra Health Care REIT by 2.5% during the 2nd quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock valued at $67,465,000 after buying an additional 104,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sabra Health Care REIT by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock worth $52,275,000 after buying an additional 124,825 shares during the period. Finally, APG Asset Management US Inc. grew its stake in Sabra Health Care REIT by 28.9% in the 2nd quarter. APG Asset Management US Inc. now owns 2,562,962 shares of the real estate investment trust’s stock valued at $39,495,000 after buying an additional 575,000 shares in the last quarter. 99.40% of the stock is owned by institutional investors.

Sabra Health Care REIT Price Performance

Shares of Sabra Health Care REIT stock opened at $17.68 on Thursday. The firm has a market capitalization of $4.18 billion, a PE ratio of 43.12, a price-to-earnings-growth ratio of 2.26 and a beta of 1.24. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. Sabra Health Care REIT, Inc. has a 12 month low of $12.83 and a 12 month high of $20.03. The business’s 50-day moving average price is $18.55 and its 200-day moving average price is $17.05.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.22). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The business had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $177.19 million. During the same period last year, the business posted $0.34 earnings per share. Sell-side analysts forecast that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 6.79%. Sabra Health Care REIT’s payout ratio is 292.69%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBRA shares. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Mizuho reaffirmed a “neutral” rating and set a $20.00 target price on shares of Sabra Health Care REIT in a report on Thursday, December 5th. Truist Financial increased their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank boosted their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Sabra Health Care REIT Profile

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.