Geode Capital Management LLC Buys 104,533 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Geode Capital Management LLC boosted its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,294,798 shares of the real estate investment trust's stock after buying an additional 104,533 shares during the period. Geode Capital Management LLC owned approximately 2.66% of Sabra Health Care REIT worth $117,165,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc grew its holdings in shares of Sabra Health Care REIT by 62.5% during the 3rd quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust's stock worth $3,869,000 after purchasing an additional 79,956 shares in the last quarter. Barclays PLC grew its holdings in shares of Sabra Health Care REIT by 56.1% during the 3rd quarter. Barclays PLC now owns 678,397 shares of the real estate investment trust's stock worth $12,624,000 after purchasing an additional 243,895 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Sabra Health Care REIT by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 579,110 shares of the real estate investment trust's stock worth $8,918,000 after purchasing an additional 38,144 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Sabra Health Care REIT by 77.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust's stock worth $19,824,000 after purchasing an additional 559,800 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Sabra Health Care REIT by 22.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 247,000 shares of the real estate investment trust's stock worth $3,804,000 after purchasing an additional 44,639 shares in the last quarter. 99.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBRA. Mizuho reaffirmed a "neutral" rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Scotiabank boosted 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 note on Friday, October 11th. Truist Financial boosted their price target 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. Wells Fargo & Company raised Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Finally, Citigroup raised Sabra Health Care REIT from a "neutral" rating to a "buy" rating and boosted their price target for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.14.

Sabra Health Care REIT Price Performance

SBRA traded down $0.75 during trading on Wednesday, hitting $16.90. The company's stock had a trading volume of 3,036,305 shares, compared to its average volume of 2,050,356. The firm's 50 day moving average price is $18.51 and its two-hundred day moving average price is $17.15. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. Sabra Health Care REIT, Inc. has a 12 month low of $12.83 and a 12 month high of $20.03. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last issued 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). The business had revenue of $178.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.34 EPS. Sell-side 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 company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.10%. Sabra Health Care REIT's payout ratio is currently 292.68%.

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.