Cornercap Investment Counsel Inc. Sells 31,379 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Cornercap Investment Counsel Inc. cut its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 52.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,584 shares of the real estate investment trust’s stock after selling 31,379 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Sabra Health Care REIT were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Natixis bought a new stake in shares of Sabra Health Care REIT in the 1st quarter valued at about $633,000. Cetera Advisors LLC raised its holdings in shares of Sabra Health Care REIT by 996.2% in the 1st quarter. Cetera Advisors LLC now owns 149,574 shares of the real estate investment trust’s stock valued at $2,209,000 after purchasing an additional 135,929 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Sabra Health Care REIT by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 579,110 shares of the real estate investment trust’s stock valued at $8,918,000 after purchasing an additional 38,144 shares during the period. Cetera Investment Advisers raised its holdings in shares of Sabra Health Care REIT by 34.1% in the 1st quarter. Cetera Investment Advisers now owns 406,675 shares of the real estate investment trust’s stock valued at $6,007,000 after purchasing an additional 103,413 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Sabra Health Care REIT by 77.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust’s stock valued at $19,824,000 after purchasing an additional 559,800 shares during the period. 99.40% of the stock is owned by institutional investors.

Sabra Health Care REIT Stock Performance

Shares of NASDAQ:SBRA opened at $18.18 on Friday. The company’s 50 day moving average price is $18.60 and its two-hundred day moving average price is $16.55. Sabra Health Care REIT, Inc. has a 12-month low of $12.83 and a 12-month high of $20.03. The firm has a market cap of $4.30 billion, a PE ratio of 44.34, a PEG ratio of 2.35 and a beta of 1.25. 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 (NASDAQ:SBRA) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The business 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 quarter in the previous year, the company earned $0.34 EPS. Equities research analysts predict that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 6.60%. Sabra Health Care REIT’s dividend payout ratio is 292.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBRA. Scotiabank upped 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. Citigroup upgraded 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. 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. Finally, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Sabra Health Care REIT presently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

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.