Retirement Systems of Alabama Sells 1,149 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Retirement Systems of Alabama trimmed its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,573 shares of the real estate investment trust’s stock after selling 1,149 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Sabra Health Care REIT worth $5,296,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SBRA. Principal Financial Group Inc. increased its holdings in shares of Sabra Health Care REIT by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock valued at $401,479,000 after acquiring an additional 167,069 shares during the period. Geode Capital Management LLC grew its stake in Sabra Health Care REIT by 1.7% in the third quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock valued at $117,165,000 after purchasing an additional 104,533 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 last quarter. LSV Asset Management raised its holdings in Sabra Health Care REIT by 2.5% in the second quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock worth $67,465,000 after purchasing an additional 104,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Sabra Health Care REIT by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock valued at $52,275,000 after buying an additional 124,825 shares during the last quarter. Institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Stock Down 4.2 %

Sabra Health Care REIT stock opened at $16.90 on Thursday. The business’s 50-day simple moving average is $18.48 and its two-hundred day simple moving average is $17.15. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16. The company has a market cap of $4.00 billion, a PE ratio of 41.22, a PEG ratio of 2.20 and a beta of 1.24. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. The firm had revenue of $178.00 million during the quarter, compared to analysts’ expectations of $177.19 million. During the same quarter in the prior year, the company earned $0.34 EPS. Equities analysts anticipate that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 7.10%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 292.68%.

Analyst Upgrades and Downgrades

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

Sabra Health Care REIT Company 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.