Renaissance Technologies LLC Boosts Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Renaissance Technologies LLC boosted its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 77.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,287,279 shares of the real estate investment trust’s stock after purchasing an additional 559,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.56% of Sabra Health Care REIT worth $19,824,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Sabra Health Care REIT during the second quarter worth $26,000. Neo Ivy Capital Management purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter valued at $41,000. Principal Securities Inc. purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter valued at $46,000. GAMMA Investing LLC lifted its position in shares of Sabra Health Care REIT by 40.0% in 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 in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter valued at $56,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Sabra Health Care REIT Stock Up 1.5 %

Shares of SBRA opened at $18.64 on Friday. The firm has a market cap of $4.37 billion, a PE ratio of 93.20, a price-to-earnings-growth ratio of 2.71 and a beta of 1.26. The company’s fifty day moving average is $16.84 and its two-hundred day moving average is $15.24. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $19.32. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The company had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. Analysts forecast that Sabra Health Care REIT, Inc. will post 1.37 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 600.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on SBRA shares. Truist Financial upped their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the company 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 upped their price objective for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Finally, Scotiabank upped their price objective on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.30.

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.