Covestor Ltd Sells 665 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Covestor Ltd reduced its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 25.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor 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 made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Sabra Health Care REIT by 25.3% during the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 932 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Sabra Health Care REIT by 2.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 1,168 shares during the last quarter. Assetmark Inc. lifted its stake in Sabra Health Care REIT by 168.4% during the third quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,231 shares during the last quarter. Arizona State Retirement System lifted its stake in Sabra Health Care REIT by 2.0% during the second quarter. Arizona State Retirement System now owns 64,802 shares of the real estate investment trust’s stock worth $998,000 after purchasing an additional 1,258 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Sabra Health Care REIT by 2.1% during the second quarter. QRG Capital Management Inc. now owns 62,517 shares of the real estate investment trust’s stock worth $963,000 after purchasing an additional 1,266 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

Sabra Health Care REIT Stock Performance

Shares of SBRA opened at $18.18 on Friday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 44.34, a P/E/G ratio of 2.35 and a beta of 1.25. Sabra Health Care REIT, Inc. has a 52 week low of $12.83 and a 52 week high of $20.03. The stock has a 50 day moving average price of $18.60 and a two-hundred day moving average price of $16.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. During the same quarter last year, the company posted $0.34 EPS. Equities analysts forecast that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

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

Analysts Set New Price Targets

SBRA has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Truist Financial upped their price target on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank increased their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Finally, Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $20.00 in a report on Friday, September 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.71.

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.