Citigroup Inc. Boosts Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Citigroup Inc. raised its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 104.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 316,007 shares of the real estate investment trust’s stock after purchasing an additional 161,071 shares during the quarter. Citigroup Inc.’s holdings in Sabra Health Care REIT were worth $5,881,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in shares of Sabra Health Care REIT in the 2nd quarter valued at approximately $26,000. Assetmark Inc. raised its holdings in 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 purchasing an additional 1,231 shares in the last quarter. GAMMA Investing LLC lifted its position in Sabra Health Care REIT by 40.0% during the second quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,052 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Sabra Health Care REIT during the third quarter valued at about $78,000. Finally, International Assets Investment Management LLC increased its position in shares of Sabra Health Care REIT by 1,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,104 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 5,776 shares during the period. Institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Price Performance

Shares of SBRA opened at $18.73 on Monday. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 2.35 and a beta of 1.25. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The firm’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $16.84. Sabra Health Care REIT, Inc. has a twelve month low of $12.83 and a twelve month high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $177.19 million. During the same period in the previous year, the business posted $0.34 EPS. Equities analysts forecast 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. Stockholders of record on Friday, November 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s payout ratio is 292.69%.

Analyst Upgrades and Downgrades

SBRA has been the topic of several analyst reports. Truist Financial increased their price target on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Finally, Scotiabank raised their price target on shares of 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

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.