Bank of Montreal Can Buys New Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Bank of Montreal Can acquired a new position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 25,952 shares of the real estate investment trust’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBRA. Virtu Financial LLC acquired a new position in Sabra Health Care REIT during the 1st quarter valued at approximately $132,000. Ieq Capital LLC acquired a new stake in shares of Sabra Health Care REIT during the first quarter worth $230,000. Strs Ohio raised its position in shares of Sabra Health Care REIT by 90.6% during the second quarter. Strs Ohio now owns 824,290 shares of the real estate investment trust’s stock worth $9,701,000 after purchasing an additional 391,925 shares during the period. AGF Management Ltd. grew its holdings in shares of Sabra Health Care REIT by 4.5% during the first quarter. AGF Management Ltd. now owns 280,515 shares of the real estate investment trust’s stock valued at $3,226,000 after buying an additional 12,002 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Sabra Health Care REIT by 18.1% during the second quarter. LPL Financial LLC now owns 103,760 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 15,896 shares in the last quarter. 86.36% of the stock is currently owned by hedge funds and other institutional investors.

Sabra Health Care REIT Price Performance

Sabra Health Care REIT stock opened at $14.57 on Tuesday. 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 cap of $3.37 billion, a P/E ratio of -37.36 and a beta of 1.24. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average price is $13.95 and its two-hundred day moving average price is $12.71.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 17th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.24%. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently -307.69%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Jefferies Financial Group upgraded Sabra Health Care REIT from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $15.00 in a research note on Wednesday, September 20th. Stifel Nicolaus boosted their price objective 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. StockNews.com started coverage on Sabra Health Care REIT in a report on Thursday, October 5th. They issued a “hold” rating for the company. Truist Financial upped their price target on Sabra Health Care REIT from $13.00 to $15.00 in a report on Friday, September 29th. Finally, Bank of America raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a report on Tuesday, October 10th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Sabra Health Care REIT has a consensus rating of “Hold” and an average target price of $14.59.

About Sabra Health Care REIT

As of June 30, 2023, Sabra's investment portfolio included 392 real estate properties held for investment (consisting of (i) 253 Skilled Nursing/Transitional Care facilities, (ii) 45 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), 13 investments in loans receivable (consisting of two mortgage loans and 11 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.