New York State Teachers Retirement System Decreases Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

New York State Teachers Retirement System cut its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,482 shares of the real estate investment trust’s stock after selling 2,428 shares during the period. New York State Teachers Retirement System’s holdings in Sabra Health Care REIT were worth $5,220,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of Sabra Health Care REIT during the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC lifted its position in Sabra Health Care REIT by 40.0% during the second quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 1,052 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Sabra Health Care REIT by 1,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,104 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 5,776 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Sabra Health Care REIT in the 3rd quarter worth about $130,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Sabra Health Care REIT during the 2nd quarter valued at about $117,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Stock Up 0.5 %

Shares of Sabra Health Care REIT stock opened at $18.77 on Wednesday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 2.66 and a beta of 1.25. Sabra Health Care REIT, Inc. has a 1 year low of $12.83 and a 1 year high of $19.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. The firm’s 50-day moving average is $18.26 and its two-hundred day moving average is $16.25.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The company had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same period in the previous year, the business earned $0.34 EPS. As a group, research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 6.39%. Sabra Health Care REIT’s dividend payout ratio (DPR) is 292.68%.

Wall Street Analysts Forecast Growth

SBRA has been the subject of several recent research reports. Scotiabank lifted their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Citigroup upgraded 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 report on Friday, September 13th. Finally, Truist Financial boosted their price objective 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.