Public Employees Retirement Association of Colorado Sells 3,235 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Public Employees Retirement Association of Colorado decreased its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,726 shares of the real estate investment trust’s stock after selling 3,235 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Sabra Health Care REIT were worth $381,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Sabra Health Care REIT by 2.5% during the first quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after buying an additional 838,654 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Sabra Health Care REIT by 0.4% during the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock valued at $318,605,000 after purchasing an additional 83,842 shares during the period. Janus Henderson Group PLC lifted its position in Sabra Health Care REIT by 2.9% in the first 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 increased its holdings in 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 valued at $67,465,000 after buying an additional 104,800 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $52,275,000 after buying an additional 124,825 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SBRA shares. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank increased 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 note on Monday, August 26th. Finally, Truist Financial boosted their target price 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Sabra Health Care REIT Stock Performance

Sabra Health Care REIT stock opened at $18.44 on Friday. The stock has a 50-day simple moving average of $17.14 and a 200 day simple moving average of $15.44. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 92.20, a P/E/G ratio of 2.72 and a beta of 1.26. The company has a quick ratio of 4.27, a current 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.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its 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 the consensus estimate of $166.54 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Sabra Health Care REIT, Inc. will post 1.38 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

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 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 600.00%.

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.