Essex Financial Services Inc. Purchases 13,629 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Essex Financial Services Inc. boosted its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 32.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,019 shares of the real estate investment trust’s stock after purchasing an additional 13,629 shares during the period. Essex Financial Services Inc.’s holdings in Sabra Health Care REIT were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Sabra Health Care REIT during the second quarter worth approximately $26,000. GAMMA Investing LLC purchased a new position in shares of Sabra Health Care REIT during the fourth quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new position in shares of Sabra Health Care REIT during the fourth quarter worth approximately $41,000. Principal Securities Inc. purchased a new position in shares of Sabra Health Care REIT during the fourth quarter worth approximately $46,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Sabra Health Care REIT during the fourth quarter worth approximately $56,000. Institutional investors own 99.40% of the company’s stock.

Analyst Upgrades and Downgrades

SBRA has been the topic of a number of research reports. Scotiabank raised their target price on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial lifted their price objective on shares of Sabra Health Care REIT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.60.

Sabra Health Care REIT Trading Up 1.2 %

NASDAQ SBRA opened at $17.04 on Monday. The company has a market capitalization of $3.99 billion, a PE ratio of 85.20, a P/E/G ratio of 2.46 and a beta of 1.24. The company has a fifty day moving average of $16.09 and a 200 day moving average of $14.86. Sabra Health Care REIT, Inc. has a 1 year low of $12.31 and a 1 year high of $17.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The business had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Research analysts forecast that Sabra Health Care REIT, Inc. will post 1.37 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 7.04%. Sabra Health Care REIT’s payout ratio is 600.00%.

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.