GSA Capital Partners LLP Acquires Shares of 64,779 Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

GSA Capital Partners LLP acquired a new stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 64,779 shares of the real estate investment trust’s stock, valued at approximately $1,206,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in shares of Sabra Health Care REIT by 152.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust’s stock valued at $26,677,000 after purchasing an additional 1,046,748 shares during the last quarter. Millennium Management LLC bought a new position in shares of Sabra Health Care REIT in the 2nd quarter valued at $12,972,000. Vanguard Group Inc. increased its stake in shares of Sabra Health Care REIT by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock valued at $516,545,000 after purchasing an additional 838,654 shares during the last quarter. APG Asset Management US Inc. increased its stake in shares of Sabra Health Care REIT by 28.9% in the 2nd quarter. APG Asset Management US Inc. now owns 2,562,962 shares of the real estate investment trust’s stock valued at $39,495,000 after purchasing an additional 575,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Sabra Health Care REIT by 77.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust’s stock valued at $19,824,000 after purchasing an additional 559,800 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBRA has been the topic of several recent analyst reports. Scotiabank lifted their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Truist Financial lifted their price target on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Sabra Health Care REIT Trading Down 2.5 %

Shares of SBRA stock opened at $18.24 on Friday. The firm has a market capitalization of $4.32 billion, a P/E ratio of 44.49, a P/E/G ratio of 2.45 and a beta of 1.25. Sabra Health Care REIT, Inc. has a twelve month low of $12.83 and a twelve month high of $20.03. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is $18.58 and its 200 day simple moving average is $16.51.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.22). The company had revenue of $178.00 million for the quarter, compared to analyst estimates of $177.19 million. Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT’s payout ratio is presently 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.