JPMorgan Chase & Co. Purchases 6,819,919 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

JPMorgan Chase & Co. raised its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 222.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,886,917 shares of the real estate investment trust’s stock after acquiring an additional 6,819,919 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.18% of Sabra Health Care REIT worth $183,996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBRA. Quarry LP bought a new position in Sabra Health Care REIT in the third quarter valued at approximately $30,000. Assetmark Inc. boosted its holdings in shares of Sabra Health Care REIT by 168.4% in the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 1,231 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Sabra Health Care REIT in the third quarter valued at $59,000. Harbor Capital Advisors Inc. bought a new position in shares of Sabra Health Care REIT in the third quarter valued at $78,000. Finally, GAMMA Investing LLC increased its holdings 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 buying an additional 932 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBRA has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of 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 research note on Tuesday, October 1st. Truist Financial raised their target price on shares of 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. Citigroup raised 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. Mizuho reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.14.

Sabra Health Care REIT Trading Up 1.6 %

Shares of NASDAQ:SBRA opened at $17.32 on Wednesday. Sabra Health Care REIT, Inc. has a 12-month low of $12.83 and a 12-month high of $20.03. The business has a 50 day moving average of $18.28 and a 200-day moving average of $17.33. 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 has a market cap of $4.10 billion, a PE ratio of 42.24, a P/E/G ratio of 2.20 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings results 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 net margin of 14.20% and a return on equity of 3.51%. The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, equities research analysts forecast that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date was Friday, November 15th. Sabra Health Care REIT’s dividend 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.