Truist Financial Corp Boosts Holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Truist Financial Corp increased its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 85.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,180 shares of the real estate investment trust's stock after purchasing an additional 84,251 shares during the period. Truist Financial Corp owned approximately 0.08% of Sabra Health Care REIT worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBRA. State of Alaska Department of Revenue increased its holdings in shares of Sabra Health Care REIT by 0.6% during the 1st quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust's stock valued at $1,993,000 after purchasing an additional 755 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Sabra Health Care REIT by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust's stock valued at $4,289,000 after purchasing an additional 761 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Sabra Health Care REIT by 1.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust's stock worth $959,000 after purchasing an additional 928 shares during the period. 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 worth $57,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Sabra Health Care REIT by 2.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust's stock valued at $746,000 after purchasing an additional 1,168 shares during the period. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Sabra Health Care REIT Price Performance

SBRA stock traded down $0.33 during mid-day trading on Thursday, reaching $17.74. The company's stock had a trading volume of 1,540,755 shares, compared to its average volume of 2,049,058. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $17.42 and its two-hundred day moving average is $15.67. The stock has a market cap of $4.16 billion, a PE ratio of 88.70, a P/E/G ratio of 2.58 and a beta of 1.26. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $19.32.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm had revenue of $176.14 million during the quarter, compared to analysts' expectations of $166.54 million. During the same period last year, the company earned $0.34 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts expect that Sabra Health Care REIT, Inc. will post 1.38 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.76%. The ex-dividend date was Monday, August 19th. Sabra Health Care REIT's payout ratio is currently 600.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial upped their target price on 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. Wells Fargo & Company raised shares of Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Citigroup raised shares of Sabra Health Care REIT from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Finally, Scotiabank raised their price target on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the company a "sector perform" rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.80.

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.