Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Shares Sold by Covestor Ltd

Covestor Ltd decreased its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 25.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,911 shares of the real estate investment trust’s stock after selling 665 shares during the quarter. Covestor Ltd’s holdings in Sabra Health Care REIT were worth $36,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised 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 valued at $516,545,000 after buying an additional 838,654 shares during the period. Principal Financial Group Inc. boosted its stake in Sabra Health Care REIT by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock valued at $401,479,000 after purchasing an additional 167,069 shares during the period. Janus Henderson Group PLC boosted its stake in Sabra Health Care REIT by 2.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock valued at $76,701,000 after purchasing an additional 145,548 shares during the period. LSV Asset Management lifted its position in shares of 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 worth $67,465,000 after acquiring an additional 104,800 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position 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 worth $52,275,000 after acquiring an additional 124,825 shares during the period. Institutional investors and hedge funds own 99.40% of the company’s stock.

Sabra Health Care REIT Trading Up 1.3 %

Shares of NASDAQ:SBRA opened at $18.18 on Friday. Sabra Health Care REIT, Inc. has a 12-month low of $12.83 and a 12-month high of $20.03. The stock has a market cap of $4.30 billion, a PE ratio of 44.34, a P/E/G ratio of 2.35 and a beta of 1.25. The business has a 50 day moving average of $18.60 and a 200-day moving average of $16.54. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, equities research analysts forecast that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 292.69%.

Wall Street Analyst Weigh In

SBRA has been the subject of a number of recent research reports. 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 report on Tuesday, October 1st. Scotiabank raised 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. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $20.00 in a report on Friday, September 13th. Finally, Truist Financial lifted their price target on 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.71.

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.