Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 1.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,294,798 shares of the real estate investment trust’s stock after acquiring an additional 104,533 shares during the period. Geode Capital Management LLC’s holdings in Sabra Health Care REIT were worth $117,165,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in shares of Sabra Health Care REIT by 0.8% in the third quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock worth $401,479,000 after buying an additional 167,069 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Sabra Health Care REIT by 8.4% in the 3rd 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 purchasing an additional 365,855 shares during the period. LSV Asset Management grew its position in Sabra Health Care REIT by 2.5% during the 2nd quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock worth $67,465,000 after purchasing an additional 104,800 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sabra Health Care REIT by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock valued at $52,275,000 after purchasing an additional 124,825 shares during the period. 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 valued at $39,495,000 after purchasing an additional 575,000 shares in the last quarter. 99.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial lifted their price target on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Mizuho reissued a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Wells Fargo & Company raised shares of 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 research report on Tuesday, October 1st. Finally, Scotiabank upped their price objective 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Sabra Health Care REIT Trading Up 1.6 %

Shares of NASDAQ SBRA opened at $17.65 on Wednesday. The business has a 50 day simple moving average of $18.51 and a 200 day simple moving average of $17.15. Sabra Health Care REIT, Inc. has a 52 week low of $12.83 and a 52 week high of $20.03. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 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 return on equity of 3.51% and a net margin of 14.20%. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, research analysts predict 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. Shareholders of record on Friday, November 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 6.80%. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 292.68%.

About Sabra Health Care REIT

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.