JPMorgan Chase & Co. Increases Stock Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

JPMorgan Chase & Co. grew its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 222.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,886,917 shares of the real estate investment trust's stock after buying an additional 6,819,919 shares during the period. JPMorgan Chase & Co. owned 4.18% of Sabra Health Care REIT worth $183,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBRA. Quarry LP purchased a new position in Sabra Health Care REIT in the third quarter worth approximately $30,000. Assetmark Inc. lifted its stake in shares of Sabra Health Care REIT by 168.4% in the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 1,231 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sabra Health Care REIT during the 3rd quarter worth about $59,000. Harbor Capital Advisors Inc. purchased a new stake in Sabra Health Care REIT in the 3rd quarter valued at about $78,000. Finally, GAMMA Investing LLC lifted its position in Sabra Health Care REIT by 25.3% in the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 932 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company 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 upped their price target for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Truist Financial lifted their price objective 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. Mizuho reissued a "neutral" rating and set a $20.00 target price on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Finally, Wells Fargo & Company raised Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.14.

Sabra Health Care REIT Stock Up 1.6 %

NASDAQ SBRA traded up $0.28 during trading hours on Wednesday, hitting $17.32. 2,085,881 shares of the company were exchanged, compared to its average volume of 2,047,901. The company has a 50 day moving average of $18.25 and a two-hundred day moving average of $17.35. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.20 and a beta of 1.24. Sabra Health Care REIT, Inc. has a 52-week low of $12.83 and a 52-week high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.22). The business had revenue of $178.00 million during the quarter, compared to analysts' expectations 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 last year, the company earned $0.34 EPS. Equities research analysts anticipate that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT's payout ratio is 292.68%.

About Sabra Health Care REIT

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.