Geode Capital Management LLC Increases Stock Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Geode Capital Management LLC increased its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,381,525 shares of the real estate investment trust’s stock after buying an additional 86,727 shares during the period. Geode Capital Management LLC’s holdings in Sabra Health Care REIT were worth $110,550,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Sabra Health Care REIT by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 22,109,683 shares of the real estate investment trust’s stock worth $382,940,000 after buying an additional 536,247 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Sabra Health Care REIT by 4.3% during the fourth quarter. JPMorgan Chase & Co. now owns 10,312,991 shares of the real estate investment trust’s stock valued at $178,621,000 after purchasing an additional 426,074 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sabra Health Care REIT by 13.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,039,651 shares of the real estate investment trust’s stock valued at $69,967,000 after purchasing an additional 463,601 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Sabra Health Care REIT by 33.7% during the fourth quarter. Wellington Management Group LLP now owns 3,205,042 shares of the real estate investment trust’s stock valued at $55,511,000 after purchasing an additional 808,207 shares in the last quarter. Finally, Norges Bank purchased a new position in Sabra Health Care REIT during the fourth quarter valued at $48,950,000. 99.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBRA. Truist Financial increased their price objective on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, March 18th. Citizens Jmp raised shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities raised shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

Sabra Health Care REIT Price Performance

Shares of NASDAQ SBRA opened at $16.93 on Thursday. The firm has a 50-day simple moving average of $16.86 and a 200-day simple moving average of $17.57. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.97 and a beta of 0.93. The company has a quick ratio of 4.16, a current ratio of 4.32 and a debt-to-equity ratio of 0.88. Sabra Health Care REIT, Inc. has a 52 week low of $13.31 and a 52 week high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Sabra Health Care REIT had a net margin of 18.02% and a return on equity of 4.60%. The firm had revenue of $182.35 million during the quarter, compared to analysts’ expectations of $178.01 million. On average, equities analysts predict that Sabra Health Care REIT, Inc. will post 1.45 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend was Friday, February 14th. Sabra Health Care REIT’s payout ratio is currently 226.42%.

About Sabra Health Care REIT

Sabra Health Care REIT, Inc engages in the business of acquiring, financing, and owning real estate property. The company was founded on May 10, 2010 and is headquartered in Tustin, CA.