Ontario Teachers Pension Plan Board Has $601,000 Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Ontario Teachers Pension Plan Board cut its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 79.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,273 shares of the real estate investment trust's stock after selling 127,108 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Sabra Health Care REIT were worth $601,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBRA. GAMMA Investing LLC raised its position in shares of Sabra Health Care REIT by 25.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust's stock worth $86,000 after buying an additional 932 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Sabra Health Care REIT by 2.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust's stock worth $746,000 after buying an additional 1,168 shares in the last quarter. Assetmark Inc. raised its position in shares of Sabra Health Care REIT by 168.4% during the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust's stock worth $37,000 after buying an additional 1,231 shares in the last quarter. Arizona State Retirement System raised its position in shares of Sabra Health Care REIT by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 64,802 shares of the real estate investment trust's stock worth $998,000 after buying an additional 1,258 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Sabra Health Care REIT by 2.1% during the 2nd quarter. QRG Capital Management Inc. now owns 62,517 shares of the real estate investment trust's stock worth $963,000 after buying an additional 1,266 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SBRA. 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 research report on Friday, September 13th. Scotiabank increased their price target on 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. Wells Fargo & Company upgraded Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Finally, Truist Financial raised their target price 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.71.

Sabra Health Care REIT Stock Up 0.3 %

Shares of SBRA traded up $0.06 during trading hours on Friday, reaching $18.41. The company's stock had a trading volume of 1,635,318 shares, compared to its average volume of 2,042,782. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.33 and a beta of 1.25. 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 company has a 50 day moving average of $18.64 and a two-hundred day moving average of $16.65. Sabra Health Care REIT, Inc. has a 1-year low of $12.83 and a 1-year high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last issued its earnings results 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 net margin of 14.20% and a return on equity of 3.51%. The company had revenue of $178.00 million for the quarter, compared to analyst estimates of $177.19 million. During the same period last year, the business earned $0.34 EPS. As a group, research analysts predict that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT's dividend payout ratio (DPR) is presently 292.68%.

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.