Franklin Resources Inc. Grows Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Franklin Resources Inc. raised its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 524,917 shares of the real estate investment trust’s stock after purchasing an additional 57,551 shares during the period. Franklin Resources Inc. owned 0.22% of Sabra Health Care REIT worth $9,543,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of 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 valued at $117,165,000 after purchasing an additional 104,533 shares in the last quarter. Barclays PLC raised its holdings in Sabra Health Care REIT by 56.1% in the third quarter. Barclays PLC now owns 678,397 shares of the real estate investment trust’s stock valued at $12,624,000 after buying an additional 243,895 shares during the period. Vestcor Inc lifted its position in Sabra Health Care REIT by 62.5% during the third quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust’s stock valued at $3,869,000 after buying an additional 79,956 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Sabra Health Care REIT by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 579,110 shares of the real estate investment trust’s stock worth $8,918,000 after buying an additional 38,144 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Sabra Health Care REIT by 77.0% in the second quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust’s stock worth $19,824,000 after acquiring an additional 559,800 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $20.00 in a research report on Tuesday, October 1st. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $20.00 in a report on Friday, September 13th. Mizuho restated 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 lifted 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 research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Sabra Health Care REIT Price Performance

Shares of NASDAQ SBRA opened at $16.96 on Friday. 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 fifty-two week low of $12.83 and a fifty-two week high of $20.03. The business has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $17.17. The firm has a market cap of $4.01 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA) 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 analysts’ consensus estimates of $0.35 by ($0.22). The company had revenue of $178.00 million for the quarter, compared to analyst estimates 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 previous year, the business posted $0.34 EPS. Sell-side analysts expect 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 business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.08%. The ex-dividend date was Friday, November 15th. 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.