Raymond James Financial Services Advisors Inc. Lowers Stock Holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Raymond James Financial Services Advisors Inc. lowered its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRAFree Report) by 21.8% in the third quarter, Holdings Channel.com reports. The firm owned 15,697 shares of the real estate investment trust’s stock after selling 4,376 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sabra Health Care REIT were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. grew its position in Sabra Health Care REIT by 32.2% during the second quarter. Principal Financial Group Inc. now owns 20,689,676 shares of the real estate investment trust’s stock valued at $243,518,000 after acquiring an additional 5,041,116 shares during the period. Norges Bank purchased a new stake in Sabra Health Care REIT during the fourth quarter valued at about $26,809,000. Balyasny Asset Management LLC grew its position in Sabra Health Care REIT by 6,220.5% during the third quarter. Balyasny Asset Management LLC now owns 2,136,468 shares of the real estate investment trust’s stock valued at $28,030,000 after acquiring an additional 2,102,666 shares during the period. State Street Corp grew its position in Sabra Health Care REIT by 18.1% during the first quarter. State Street Corp now owns 12,035,766 shares of the real estate investment trust’s stock valued at $179,213,000 after acquiring an additional 1,840,939 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Sabra Health Care REIT during the second quarter valued at about $19,262,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.

Analysts Set New Price Targets

SBRA has been the subject of a number of research reports. Wells Fargo & Company raised Sabra Health Care REIT from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $15.00 in a research report on Monday, October 16th. Deutsche Bank Aktiengesellschaft started coverage on Sabra Health Care REIT in a research report on Tuesday. They issued a “buy” rating and a $21.00 target price for the company. Mizuho upped their target price on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. StockNews.com started coverage on Sabra Health Care REIT in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus upped their target price on Sabra Health Care REIT from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.27.

Read Our Latest Report on Sabra Health Care REIT

Sabra Health Care REIT Trading Down 1.8 %

Shares of NASDAQ SBRA opened at $13.34 on Thursday. The stock’s 50 day moving average price is $14.10 and its two-hundred day moving average price is $13.63. Sabra Health Care REIT, Inc. has a 52-week low of $10.08 and a 52-week high of $14.82. The stock has a market capitalization of $3.08 billion, a P/E ratio of -34.21 and a beta of 1.21. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.82.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, November 17th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.00%. The ex-dividend date was Thursday, November 16th. Sabra Health Care REIT’s payout ratio is currently -307.69%.

About Sabra Health Care REIT

(Free Report)

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.

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Institutional Ownership by Quarter for Sabra Health Care REIT (NASDAQ:SBRA)

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