Louisiana State Employees Retirement System Has $1.21 Million Stock Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Louisiana State Employees Retirement System lessened its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 0.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 64,900 shares of the real estate investment trust’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Sabra Health Care REIT were worth $1,208,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBRA. State of Michigan Retirement System grew its holdings in shares of Sabra Health Care REIT by 2.3% during the first quarter. State of Michigan Retirement System now owns 56,749 shares of the real estate investment trust’s stock valued at $838,000 after buying an additional 1,300 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Sabra Health Care REIT by 0.6% during the 1st 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. Commonwealth Equity Services LLC increased its holdings in Sabra Health Care REIT by 1.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust’s stock worth $959,000 after purchasing an additional 928 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Sabra Health Care REIT by 0.3% in the first quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock worth $4,289,000 after purchasing an additional 761 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Sabra Health Care REIT by 8.8% in the first quarter. Janney Montgomery Scott LLC now owns 176,182 shares of the real estate investment trust’s stock valued at $2,602,000 after purchasing an additional 14,198 shares in the last quarter. Institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Price Performance

SBRA opened at $18.64 on Friday. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $19.78. The firm has a 50-day moving average of $18.21 and a 200 day moving average of $16.17. 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 firm has a market cap of $4.37 billion, a P/E ratio of 45.46, a PEG ratio of 2.77 and a beta of 1.25.

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 for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The company had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.50%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. On average, research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is currently 292.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank upped their price target 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. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $20.00 in a research note on Tuesday, October 1st. Truist Financial raised their price target on shares of 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. Finally, Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.38.

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.