Wedge Capital Management L L P NC Sells 64,498 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Wedge Capital Management L L P NC lessened its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 22.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,275 shares of the real estate investment trust’s stock after selling 64,498 shares during the quarter. Wedge Capital Management L L P NC owned about 0.10% of Sabra Health Care REIT worth $4,192,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Gilman Hill Asset Management LLC boosted its holdings in Sabra Health Care REIT by 1.2% in the third quarter. Gilman Hill Asset Management LLC now owns 628,713 shares of the real estate investment trust’s stock worth $11,700,000 after acquiring an additional 7,540 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Sabra Health Care REIT in the 3rd quarter worth $130,000. GAMMA Investing LLC lifted its holdings in shares of Sabra Health Care REIT by 25.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 932 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Sabra Health Care REIT by 58.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 77,706 shares of the real estate investment trust’s stock valued at $1,446,000 after purchasing an additional 28,700 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Sabra Health Care REIT during the third quarter worth $311,000. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SBRA shares. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank boosted their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Finally, Truist Financial lifted their target price on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.11.

Sabra Health Care REIT Stock Performance

Shares of Sabra Health Care REIT stock opened at $18.22 on Wednesday. The business’s fifty day simple moving average is $17.56 and its 200 day simple moving average is $15.77. 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 12 month low of $12.83 and a 12 month high of $19.32. The firm has a market capitalization of $4.27 billion, a P/E ratio of 86.76, a price-to-earnings-growth ratio of 2.55 and a beta of 1.26.

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

Sabra Health Care REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.59%. Sabra Health Care REIT’s dividend payout ratio (DPR) 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.