Point72 Asset Management L.P. Has $23.36 Million Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Point72 Asset Management L.P. trimmed its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 27.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,255,304 shares of the real estate investment trust's stock after selling 476,970 shares during the period. Point72 Asset Management L.P. owned approximately 0.53% of Sabra Health Care REIT worth $23,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SBRA. Family Firm Inc. bought a new stake in shares of Sabra Health Care REIT during the 2nd quarter worth about $26,000. Assetmark Inc. raised its holdings 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 in the last quarter. GAMMA Investing LLC lifted its position in Sabra Health Care REIT by 40.0% in 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 during the period. Harbor Capital Advisors Inc. bought a new position in Sabra Health Care REIT during the 3rd quarter valued at $78,000. Finally, International Assets Investment Management LLC increased its position in shares of Sabra Health Care REIT by 1,761.0% during the 3rd 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 during the period. 99.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBRA has been the subject of several research reports. Citigroup raised Sabra Health Care REIT from a "neutral" rating to a "buy" rating and raised their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Wells Fargo & Company upgraded Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Truist Financial increased their target price on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Scotiabank boosted their price objective 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. Finally, Mizuho reiterated a "neutral" rating and issued a $20.00 target price on shares of Sabra Health Care REIT in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Sabra Health Care REIT currently has an average rating of "Moderate Buy" and a consensus price target of $19.14.

Sabra Health Care REIT Stock Down 1.2 %

NASDAQ SBRA traded down $0.22 during trading on Friday, reaching $18.04. The company's stock had a trading volume of 2,193,827 shares, compared to its average volume of 2,037,716. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $4.27 billion, a PE ratio of 43.64, a PEG ratio of 2.32 and a beta of 1.24. Sabra Health Care REIT, Inc. has a 1-year low of $12.83 and a 1-year high of $20.03. The business has a 50-day moving average price of $18.60 and a 200-day moving average price of $16.93.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last released its quarterly earnings data 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 previous year, the firm posted $0.34 EPS. On average, research analysts forecast that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date was Friday, November 15th. Sabra Health Care REIT's payout ratio is 292.69%.

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.