Cornercap Investment Counsel Inc. Has $532,000 Holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Cornercap Investment Counsel Inc. reduced its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 52.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,584 shares of the real estate investment trust's stock after selling 31,379 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Sabra Health Care REIT were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Family Firm Inc. purchased a new stake in Sabra Health Care REIT in the 2nd quarter worth approximately $26,000. Assetmark Inc. raised its holdings in shares of 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 acquiring an additional 1,231 shares in the last quarter. GAMMA Investing LLC boosted 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. Harbor Capital Advisors Inc. acquired a new stake in Sabra Health Care REIT during the third quarter valued at $78,000. Finally, International Assets Investment Management LLC grew its stake in Sabra Health Care REIT by 1,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,104 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 5,776 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company's stock.

Sabra Health Care REIT Stock Performance

Shares of NASDAQ SBRA traded up $0.24 during trading hours on Friday, hitting $18.18. 2,300,525 shares of the stock were exchanged, compared to its average volume of 2,293,210. The firm has a market capitalization of $4.30 billion, a P/E ratio of 44.34, a P/E/G ratio of 2.28 and a beta of 1.25. Sabra Health Care REIT, Inc. has a one year low of $12.83 and a one year high of $20.03. 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 company's 50 day moving average is $18.60 and its 200 day moving average is $16.57.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last issued 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 net margin of 14.20% and a return on equity of 3.51%. The business had revenue of $178.00 million during the quarter, compared to analyst estimates of $177.19 million. During the same period in the prior year, the business posted $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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 6.60%. Sabra Health Care REIT's dividend payout ratio is 292.69%.

Wall Street Analysts Forecast Growth

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