Harvest Fund Management Co. Ltd Has $215,000 Holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Harvest Fund Management Co. Ltd increased its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 160.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,547 shares of the real estate investment trust’s stock after acquiring an additional 7,122 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Sabra Health Care REIT were worth $215,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cetera Advisors LLC raised its position in shares of 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 buying an additional 135,929 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in 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 valued at $8,918,000 after acquiring an additional 38,144 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Sabra Health Care REIT by 77.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust’s stock valued at $19,824,000 after acquiring an additional 559,800 shares during the period. Cetera Investment Advisers grew its holdings in shares of Sabra Health Care REIT by 34.1% during the 1st quarter. Cetera Investment Advisers now owns 406,675 shares of the real estate investment trust’s stock worth $6,007,000 after purchasing an additional 103,413 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Sabra Health Care REIT by 22.1% in the second 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 period. Institutional investors and hedge funds own 99.40% of the company’s stock.

Sabra Health Care REIT Stock Performance

Shares of Sabra Health Care REIT stock opened at $18.91 on Thursday. The company’s 50 day moving average price is $18.63 and its two-hundred day moving average price is $16.76. The firm has a market capitalization of $4.47 billion, a P/E ratio of 46.12, a P/E/G ratio of 2.33 and a beta of 1.25. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $20.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 14.20% and a return on equity of 3.51%. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities analysts forecast that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is currently 292.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $16.00 to $20.00 in a research report on Tuesday, October 1st. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Truist Financial lifted their price objective 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. Finally, Scotiabank raised their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sabra Health Care REIT has an average rating of “Moderate Buy” and a consensus 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.