SP Asset Management Increases Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Posted by Lisa Durand on Aug 6th, 2022

SP Asset Management increased its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA – Get Rating) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,270 shares of the real estate investment trust’s stock after purchasing an additional 1,146 shares during the quarter. SP Asset Management’s holdings in Sabra Health Care REIT were worth $257,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wedbush Securities Inc. purchased a new position in Sabra Health Care REIT in the first quarter valued at approximately $740,000. Comerica Bank lifted its position in shares of Sabra Health Care REIT by 7.8% during the first quarter. Comerica Bank now owns 280,321 shares of the real estate investment trust’s stock worth $3,509,000 after purchasing an additional 20,295 shares during the last quarter. Bank of America Corp DE raised its stake in Sabra Health Care REIT by 40.6% during the fourth quarter. Bank of America Corp DE now owns 335,561 shares of the real estate investment trust’s stock worth $4,543,000 after acquiring an additional 96,846 shares during the period. Parallel Advisors LLC raised its stake in Sabra Health Care REIT by 255.1% during the first quarter. Parallel Advisors LLC now owns 10,181 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 7,314 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Sabra Health Care REIT by 3.5% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 36,519 shares of the real estate investment trust’s stock worth $544,000 after acquiring an additional 1,219 shares during the period. Hedge funds and other institutional investors own 91.61% of the company’s stock.

Analyst Ratings Changes

SBRA has been the topic of several analyst reports. Mizuho upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and dropped their price target for the company from $16.00 to $15.00 in a research note on Wednesday, May 25th. Barclays cut shares of Sabra Health Care REIT from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $16.00 to $14.00 in a research report on Monday, April 18th. Jefferies Financial Group lowered Sabra Health Care REIT from a “buy” rating to a “hold” rating and dropped their price target for the company from $15.00 to $14.00 in a research report on Thursday, June 30th. Finally, Capital One Financial assumed coverage on Sabra Health Care REIT in a research report on Friday, June 3rd. They set an “equal weight” rating and a $15.50 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.85.

Sabra Health Care REIT Stock Down 1.2 %

Shares of SBRA traded down $0.19 during mid-day trading on Friday, hitting $15.18. 1,590,878 shares of the company’s stock were exchanged, compared to its average volume of 1,653,114. The company has a market cap of $3.51 billion, a PE ratio of 79.90 and a beta of 1.33. Sabra Health Care REIT, Inc. has a 52 week low of $11.44 and a 52 week high of $17.70. The company has a 50-day simple moving average of $14.37 and a 200 day simple moving average of $13.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.97 and a quick ratio of 3.60.

Sabra Health Care REIT (NASDAQ:SBRA – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Sabra Health Care REIT had a return on equity of 1.29% and a net margin of 7.42%. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, research analysts forecast that Sabra Health Care REIT, Inc. will post 1.47 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $1.20 annualized dividend and a dividend yield of 7.91%. Sabra Health Care REIT’s dividend payout ratio is 631.61%.

Sabra Health Care REIT Profile

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As of March 31, 2022, Sabra's investment portfolio included 416 real estate properties held for investment. This consists of (i) 279 Skilled Nursing/Transitional Care facilities, (ii) 59 Senior Housing communities (Senior Housing – Leased), (iii) 50 Senior Housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 13 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), one asset held for sale, one investment in a sales-type lease, 16 investments in loans receivable (consisting of (i) two mortgage loans, (ii) one construction loan and (iii) 13 other loans), seven preferred equity investments and one investment in an unconsolidated joint venture.