Te Ahumairangi Investment Management Ltd Sells 32,800 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Te Ahumairangi Investment Management Ltd reduced its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,620 shares of the real estate investment trust's stock after selling 32,800 shares during the period. Te Ahumairangi Investment Management Ltd owned about 0.06% of Sabra Health Care REIT worth $2,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBRA. Geode Capital Management LLC grew its position in Sabra Health Care REIT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust's stock worth $117,165,000 after purchasing an additional 104,533 shares during the period. Vestcor Inc boosted its position in Sabra Health Care REIT by 62.5% in the third 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 during the last quarter. M&T Bank Corp increased its holdings in Sabra Health Care REIT by 2.8% during the third quarter. M&T Bank Corp now owns 50,335 shares of the real estate investment trust's stock valued at $937,000 after buying an additional 1,374 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Sabra Health Care REIT by 7.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,183,719 shares of the real estate investment trust's stock worth $40,639,000 after acquiring an additional 156,309 shares during the period. Finally, Barclays PLC boosted its stake 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 acquiring an additional 243,895 shares during the last quarter. 99.40% of the stock is owned by institutional investors.

Sabra Health Care REIT Trading Down 1.8 %

SBRA traded down $0.31 on Thursday, hitting $17.37. The company had a trading volume of 1,829,638 shares, compared to its average volume of 2,039,766. Sabra Health Care REIT, Inc. has a 12-month low of $12.83 and a 12-month high of $20.03. 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 business's fifty day simple moving average is $18.55 and its 200 day simple moving average is $17.05. The company has a market cap of $4.11 billion, a PE ratio of 43.12, a PEG ratio of 2.26 and a beta of 1.24.

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 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.22). The firm had revenue of $178.00 million for the quarter, compared to analysts' expectations of $177.19 million. Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. During the same period in the prior year, the firm posted $0.34 earnings per share. Equities research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.30 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 6.91%. Sabra Health Care REIT's payout ratio is 292.69%.

Analysts Set New Price Targets

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

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.