Point72 Asia Singapore Pte. Ltd. Buys Shares of 7,920 Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,920 shares of the real estate investment trust’s stock, valued at approximately $122,000.

Several other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in Sabra Health Care REIT by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust’s stock valued at $1,993,000 after purchasing an additional 755 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Sabra Health Care REIT by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock valued at $4,289,000 after buying an additional 761 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Sabra Health Care REIT by 1.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust’s stock worth $959,000 after buying an additional 928 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Sabra Health Care REIT by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 292,210 shares of the real estate investment trust’s stock worth $4,316,000 after buying an additional 1,038 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Sabra Health Care REIT by 40.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 1,052 shares in the last quarter. 99.40% of the stock is owned by institutional investors.

Sabra Health Care REIT Stock Down 1.0 %

Shares of SBRA stock opened at $18.23 on Friday. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $19.32. The firm has a market capitalization of $4.27 billion, a PE ratio of 91.15, a P/E/G ratio of 2.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The stock’s 50-day simple moving average is $17.25 and its 200-day simple moving average is $15.54.

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 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 business had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. During the same quarter last year, the company posted $0.34 EPS. Sabra Health Care REIT’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that Sabra Health Care REIT, Inc. will post 1.38 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.58%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 600.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised 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. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank increased their price target on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $16.00 to $20.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

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.