State Street Corp Sells 123,492 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

State Street Corp lowered its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,690,400 shares of the real estate investment trust's stock after selling 123,492 shares during the quarter. State Street Corp owned approximately 4.94% of Sabra Health Care REIT worth $217,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP grew its holdings in Sabra Health Care REIT by 9.2% during the third quarter. Systematic Financial Management LP now owns 2,292,473 shares of the real estate investment trust's stock worth $42,663,000 after purchasing an additional 192,273 shares during the period. Quarry LP bought a new position in shares of Sabra Health Care REIT during the third quarter worth approximately $30,000. HighTower Advisors LLC increased its position in Sabra Health Care REIT by 33.3% during the third quarter. HighTower Advisors LLC now owns 29,619 shares of the real estate investment trust's stock worth $547,000 after acquiring an additional 7,403 shares during the period. Centiva Capital LP raised its stake in shares of Sabra Health Care REIT by 59.1% during the third quarter. Centiva Capital LP now owns 97,798 shares of the real estate investment trust's stock valued at $1,820,000 after acquiring an additional 36,324 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Sabra Health Care REIT in the third quarter worth $1,174,000. Institutional investors own 99.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SBRA shares. Scotiabank raised their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Friday, October 11th. Mizuho reissued a "neutral" rating and issued a $20.00 price objective on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Citigroup upgraded Sabra Health Care REIT from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $17.00 to $20.00 in a report on Friday, September 13th. Wells Fargo & Company upgraded Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Finally, Truist Financial lifted 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.14.

Sabra Health Care REIT Stock Performance

Shares of NASDAQ:SBRA traded down $0.15 during trading on Thursday, hitting $17.53. 459,140 shares of the company were exchanged, compared to its average volume of 2,033,970. The company has a market cap of $4.15 billion, a PE ratio of 43.12, a P/E/G ratio of 2.26 and a beta of 1.24. Sabra Health Care REIT, Inc. has a 52-week low of $12.83 and a 52-week high of $20.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. The stock has a 50 day moving average of $18.55 and a 200 day moving average of $17.05.

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). The business had revenue of $178.00 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business earned $0.34 EPS. As a group, equities research analysts predict that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The business also recently disclosed 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. This represents a $1.20 annualized dividend and a dividend yield of 6.85%. The ex-dividend date was Friday, November 15th. Sabra Health Care REIT's dividend payout ratio (DPR) is currently 292.69%.

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.