Vestcor Inc Raises Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Vestcor Inc raised its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 62.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,918 shares of the real estate investment trust’s stock after purchasing an additional 79,956 shares during the quarter. Vestcor Inc owned 0.09% of Sabra Health Care REIT worth $3,869,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Sabra Health Care REIT by 0.8% during the third quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock valued at $401,479,000 after purchasing an additional 167,069 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sabra Health Care REIT by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,701,881 shares of the real estate investment trust’s stock worth $87,502,000 after buying an additional 365,855 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Sabra Health Care REIT by 2.5% in the second quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock worth $67,465,000 after buying an additional 104,800 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sabra Health Care REIT by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock worth $52,275,000 after buying an additional 124,825 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its holdings in shares of Sabra Health Care REIT by 28.9% in the second quarter. APG Asset Management US Inc. now owns 2,562,962 shares of the real estate investment trust’s stock worth $39,495,000 after buying an additional 575,000 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Analysts Set New Price Targets

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

Sabra Health Care REIT Stock Up 0.8 %

Shares of Sabra Health Care REIT stock opened at $17.94 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. Sabra Health Care REIT, Inc. has a 1 year low of $12.83 and a 1 year high of $20.03. The firm’s 50-day moving average is $18.57 and its two-hundred day moving average is $17.04. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 43.76, a PEG ratio of 2.26 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results 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 return on equity of 3.51% and a net margin of 14.20%. The business had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders 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 6.69%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s payout ratio is 292.69%.

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.