Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,485 shares of the real estate investment trust’s stock after selling 1,790 shares during the period. Wedge Capital Management L L P NC owned about 0.09% of Sabra Health Care REIT worth $3,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Sabra Health Care REIT by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock valued at $401,479,000 after buying an additional 167,069 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Sabra Health Care REIT by 222.4% in the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock valued at $183,996,000 after purchasing an additional 6,819,919 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Sabra Health Care REIT by 1.7% during the third quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock worth $117,165,000 after acquiring an additional 104,533 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Sabra Health Care REIT by 8.4% during 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. Finally, Dimensional Fund Advisors LP increased its stake in shares of Sabra Health Care REIT by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock worth $52,275,000 after buying an additional 124,825 shares during the period. Institutional investors and hedge funds own 99.40% of the company’s stock.

Sabra Health Care REIT Trading Down 1.4 %

SBRA opened at $16.94 on Monday. The firm’s fifty day moving average price is $17.71 and its 200 day moving average price is $17.54. The stock has a market capitalization of $4.01 billion, a PE ratio of 41.32, a P/E/G ratio of 2.05 and a beta of 1.26. 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.

Sabra Health Care REIT (NASDAQ:SBRA) last issued 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 business had revenue of $178.00 million for the quarter, compared to analyst estimates of $177.19 million. During the same period last year, the company posted $0.34 earnings per share. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.08%. Sabra Health Care REIT’s dividend payout ratio is presently 292.69%.

Analysts Set New Price Targets

A number of research firms have recently commented on SBRA. JMP Securities raised Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Tuesday, January 7th. 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. Mizuho restated a “neutral” rating and set a $20.00 price target on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Truist Financial cut shares of Sabra Health Care REIT from a “buy” rating to a “hold” rating and cut their price target for the stock from $18.00 to $17.00 in a report on Friday. Finally, Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.13.

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.