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

Geode Capital Management LLC grew its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,294,798 shares of the real estate investment trust’s stock after purchasing an additional 104,533 shares during the period. Geode Capital Management LLC owned 2.66% of Sabra Health Care REIT worth $117,165,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBRA. Quarry LP acquired a new stake in Sabra Health Care REIT during the third quarter worth about $30,000. Family Firm Inc. bought a new position in shares of Sabra Health Care REIT during the second quarter valued at approximately $26,000. Assetmark Inc. raised its position in shares of Sabra Health Care REIT by 168.4% during the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,231 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Sabra Health Care REIT in the 3rd quarter worth approximately $78,000. Finally, GAMMA Investing LLC boosted its position in Sabra Health Care REIT by 25.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 932 shares during the period. 99.40% of the stock is currently owned by institutional investors.

Sabra Health Care REIT Trading Up 1.6 %

Sabra Health Care REIT stock opened at $17.65 on Wednesday. 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 debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. The stock has a market capitalization of $4.18 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The firm has a 50 day simple moving average of $18.51 and a 200-day simple moving average of $17.15.

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

Sabra Health Care REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s payout ratio is currently 292.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SBRA shares. Mizuho reiterated a “neutral” rating and issued a $20.00 target price on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Wells Fargo & Company upgraded shares of 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. Scotiabank boosted their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, Truist Financial increased their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Sabra Health Care REIT has a consensus rating of “Moderate Buy” and a consensus 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.