Wilmington Savings Fund Society FSB Makes New $59,000 Investment in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Wilmington Savings Fund Society FSB purchased a new position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,174 shares of the real estate investment trust’s stock, valued at approximately $59,000.

Several other hedge funds have also made changes to their positions in SBRA. Family Firm Inc. purchased a new position in Sabra Health Care REIT during the second quarter worth about $26,000. Quarry LP purchased a new position in shares of Sabra Health Care REIT during the 3rd quarter worth about $30,000. Assetmark Inc. boosted its position in shares of Sabra Health Care REIT by 168.4% in the third quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 1,231 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Sabra Health Care REIT in the third quarter valued at approximately $78,000. Finally, GAMMA Investing LLC increased its position in Sabra Health Care REIT by 25.3% during the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 932 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

Analyst Upgrades and Downgrades

SBRA has been the topic of a number of research analyst reports. Truist Financial lifted 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 report on Wednesday, September 4th. Mizuho reissued a “neutral” rating and set a $20.00 price target on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank boosted their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Finally, Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.00 to $20.00 in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.14.

Sabra Health Care REIT Stock Performance

Shares of NASDAQ:SBRA opened at $16.96 on Friday. The company has a market cap of $4.01 billion, a P/E ratio of 41.37, a PEG ratio of 2.20 and a beta of 1.24. Sabra Health Care REIT, Inc. has a one year low of $12.83 and a one year high of $20.03. The business’s 50-day simple moving average is $18.44 and its 200 day simple moving average is $17.17. 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 quarterly earnings data 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 firm had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same quarter in the prior year, the business earned $0.34 EPS. On average, sell-side analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 7.08%. Sabra Health Care REIT’s payout ratio is currently 292.68%.

Sabra Health Care REIT Company 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.