Federated Hermes Inc. Decreases Stock Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Federated Hermes Inc. cut its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,439 shares of the real estate investment trust’s stock after selling 1,853 shares during the quarter. Federated Hermes Inc.’s holdings in Sabra Health Care REIT were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in shares of Sabra Health Care REIT by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust’s stock worth $1,993,000 after buying an additional 755 shares during the period. Retirement Systems of Alabama increased its position in shares of Sabra Health Care REIT by 0.3% in the first quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock valued at $4,289,000 after acquiring an additional 761 shares during the period. Parallel Advisors LLC raised its stake in shares of Sabra Health Care REIT by 5.4% during the fourth quarter. Parallel Advisors LLC now owns 17,655 shares of the real estate investment trust’s stock valued at $252,000 after acquiring an additional 906 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Sabra Health Care REIT by 1.4% during the first quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust’s stock worth $959,000 after purchasing an additional 928 shares during the period. Finally, New York State Teachers Retirement System grew its stake in shares of Sabra Health Care REIT by 0.4% in the first quarter. New York State Teachers Retirement System now owns 292,210 shares of the real estate investment trust’s stock worth $4,316,000 after purchasing an additional 1,038 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBRA shares. Truist Financial increased their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank raised their price target on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.00 to $20.00 in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Sabra Health Care REIT currently has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Sabra Health Care REIT Stock Performance

Shares of Sabra Health Care REIT stock opened at $18.97 on Wednesday. Sabra Health Care REIT, Inc. has a 12 month low of $12.83 and a 12 month high of $19.32. The firm has a market capitalization of $4.39 billion, a P/E ratio of 94.85, a P/E/G ratio of 2.71 and a beta of 1.26. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $17.01 and a two-hundred day simple moving average of $15.37.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly 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 analysts’ expectations 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 was up 9.3% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. On average, equities analysts forecast that Sabra Health Care REIT, Inc. will post 1.37 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.33%. Sabra Health Care REIT’s payout ratio is currently 600.00%.

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.