Quest Partners LLC Cuts Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Quest Partners LLC trimmed its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 89.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,429 shares of the real estate investment trust’s stock after selling 12,525 shares during the quarter. Quest Partners LLC’s holdings in Sabra Health Care REIT were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SBRA. Cetera Advisors LLC boosted its holdings in Sabra Health Care REIT by 996.2% in the first quarter. Cetera Advisors LLC now owns 149,574 shares of the real estate investment trust’s stock valued at $2,209,000 after acquiring an additional 135,929 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Sabra Health Care REIT by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 579,110 shares of the real estate investment trust’s stock worth $8,918,000 after acquiring an additional 38,144 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Sabra Health Care REIT by 77.0% during the second 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. Cetera Investment Advisers boosted its holdings in Sabra Health Care REIT by 34.1% in the first quarter. Cetera Investment Advisers now owns 406,675 shares of the real estate investment trust’s stock worth $6,007,000 after acquiring an additional 103,413 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its position in shares of Sabra Health Care REIT by 22.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 247,000 shares of the real estate investment trust’s stock worth $3,804,000 after purchasing an additional 44,639 shares during the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Price Performance

Shares of NASDAQ:SBRA opened at $18.73 on Monday. The firm’s 50 day simple moving average is $18.64 and its two-hundred day simple moving average is $16.84. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. The company has a market capitalization of $4.43 billion, a P/E ratio of 45.68, a P/E/G ratio of 2.35 and a beta of 1.25. Sabra Health Care REIT, Inc. has a 1-year low of $12.83 and a 1-year high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.22). The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.34 EPS. Research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 6.41%. Sabra Health Care REIT’s payout ratio is 292.69%.

Analyst Ratings Changes

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

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.