Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Shares Sold by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. reduced its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 57.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,161 shares of the real estate investment trust’s stock after selling 4,246 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Sabra Health Care REIT were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Natixis acquired a new position in Sabra Health Care REIT in the first quarter valued at $633,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Sabra Health Care REIT by 63.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 318,808 shares of the real estate investment trust’s stock worth $4,709,000 after purchasing an additional 123,966 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Sabra Health Care REIT by 996.2% during the first quarter. Cetera Advisors LLC now owns 149,574 shares of the real estate investment trust’s stock worth $2,209,000 after purchasing an additional 135,929 shares during the period. Cetera Investment Advisers grew its position in Sabra Health Care REIT by 34.1% in the 1st quarter. Cetera Investment Advisers now owns 406,675 shares of the real estate investment trust’s stock valued at $6,007,000 after buying an additional 103,413 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Sabra Health Care REIT by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 579,110 shares of the real estate investment trust’s stock valued at $8,918,000 after buying an additional 38,144 shares during the period. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Sabra Health Care REIT Price Performance

SBRA stock opened at $18.23 on Friday. The firm has a 50 day moving average of $17.25 and a 200-day moving average of $15.54. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 91.15, a PEG ratio of 2.65 and a beta of 1.26. 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.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data 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). The firm had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities analysts expect that Sabra Health Care REIT, Inc. will post 1.38 EPS for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid 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 6.58%. Sabra Health Care REIT’s payout ratio is 600.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBRA shares. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised 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 shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Truist Financial lifted 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. Finally, Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $20.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.