Envestnet Asset Management Inc. Buys 38,144 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Envestnet Asset Management Inc. lifted its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 7.1% during the second quarter, HoldingsChannel reports. The firm owned 579,110 shares of the real estate investment trust’s stock after purchasing an additional 38,144 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sabra Health Care REIT were worth $8,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of SBRA. Vanguard Group Inc. grew its holdings in Sabra Health Care REIT by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after acquiring an additional 838,654 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Sabra Health Care REIT by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock worth $318,605,000 after acquiring an additional 83,842 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Sabra Health Care REIT by 2.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock worth $76,701,000 after purchasing an additional 145,548 shares during the period. LSV Asset Management raised its position in shares of Sabra Health Care REIT by 2.5% in the 2nd quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock worth $67,465,000 after acquiring an additional 104,800 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sabra Health Care REIT during the fourth quarter worth $31,605,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Sabra Health Care REIT Price Performance

Shares of NASDAQ SBRA opened at $18.44 on Friday. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $17.14 and its 200 day moving average price is $15.44. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 92.20, a PEG ratio of 2.72 and a beta of 1.26. Sabra Health Care REIT, Inc. has a 52 week low of $12.83 and a 52 week high of $19.32.

Sabra Health Care REIT (NASDAQ:SBRA) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $166.54 million. During the same period in the prior year, the business posted $0.34 earnings per share. Sabra Health Care REIT’s revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Sabra Health Care REIT, Inc. will post 1.38 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 6.51%. Sabra Health Care REIT’s payout ratio is currently 600.00%.

Analyst Ratings Changes

SBRA has been the topic of several recent research reports. Scotiabank upped their price objective on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial increased their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup upgraded 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 report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.30.

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.