Principal Financial Group Inc. Boosts Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Principal Financial Group Inc. raised its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,573,436 shares of the real estate investment trust's stock after purchasing an additional 167,069 shares during the quarter. Principal Financial Group Inc. owned 9.32% of Sabra Health Care REIT worth $401,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in Sabra Health Care REIT in the second quarter worth $26,000. GAMMA Investing LLC increased its position in shares of 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 buying an additional 1,052 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Sabra Health Care REIT in the third quarter worth about $78,000. International Assets Investment Management LLC boosted its position in 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 acquiring an additional 5,776 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Sabra Health Care REIT during the 2nd quarter worth approximately $117,000. Institutional investors own 99.40% of the company's stock.

Sabra Health Care REIT Stock Performance

Shares of SBRA traded up $0.84 during mid-day trading on Thursday, hitting $19.32. 2,222,198 shares of the company traded hands, compared to its average volume of 2,049,588. Sabra Health Care REIT, Inc. has a 1 year low of $12.83 and a 1 year high of $19.78. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16. The stock has a 50-day moving average price of $18.33 and a two-hundred day moving average price of $16.30. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 45.07, a P/E/G ratio of 2.67 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share 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 firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. During the same period in the previous year, the company earned $0.34 earnings per share. Equities analysts anticipate that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.21%. Sabra Health Care REIT's dividend payout ratio is currently 292.69%.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBRA shares. Wells Fargo & Company upgraded Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank upped their price objective on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a "sector perform" rating in a report on Friday, October 11th. Truist Financial lifted their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Finally, 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sabra Health Care REIT presently has an average rating of "Moderate Buy" and an average price target of $18.38.

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.