Engineers Gate Manager LP Trims Position in Sabra Healthcare REIT, Inc. $SBRA

Key Points

• Engineers Gate Manager LP cut its Sabra Healthcare REIT stake by 55.5% in the second quarter, selling 1.31 million shares and retaining 1.05 million shares worth about $20.5 million. Institutional investors still own 99.4% of SBRA’s outstanding stock.
• Sabra reported quarterly revenue of $230.1 million, exceeding estimates, but posted an EPS loss of $0.10 versus the $0.17 consensus forecast. The REIT maintained a quarterly dividend of $0.30, representing a 5.8% yield.
• Analyst sentiment is mixed, with six Buy ratings and seven Holds and an average price target of $22.17 versus the stock’s reported $20.79 price. CEO Richard Matros also sold 200,000 shares under a pre-arranged Rule 10b5-1 plan.

Engineers Gate Manager LP trimmed its position in shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 55.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,051,928 shares of the real estate investment trust's stock after selling 1,312,406 shares during the period. Engineers Gate Manager LP owned 0.41% of Sabra Healthcare REIT worth $20,523,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SBRA. California State Teachers Retirement System raised its holdings in Sabra Healthcare REIT by 1,824.2% during the second quarter. California State Teachers Retirement System now owns 5,746,631 shares of the real estate investment trust's stock valued at $112,117,000 after acquiring an additional 5,447,978 shares during the period. Lasalle Investment Management Securities LLC purchased a new position in Sabra Healthcare REIT in the 4th quarter worth approximately $66,938,000. Norges Bank bought a new position in Sabra Healthcare REIT in the 4th quarter worth approximately $57,945,000. Balyasny Asset Management L.P. bought a new position in Sabra Healthcare REIT in the 2nd quarter worth approximately $49,955,000. Finally, Centersquare Investment Management LLC bought a new position in Sabra Healthcare REIT in the 4th quarter worth approximately $50,276,000. Hedge funds and other institutional investors own 99.40% of the company's stock.

Sabra Healthcare REIT Price Performance

NASDAQ:SBRA opened at $20.79 on Thursday. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 79.96, a PEG ratio of 1.58 and a beta of 0.65. Sabra Healthcare REIT, Inc. has a 1 year low of $17.17 and a 1 year high of $22.77. The business has a 50 day simple moving average of $20.68 and a 200-day simple moving average of $20.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.07 and a quick ratio of 3.07.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last released its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.27). The company had revenue of $230.11 million for the quarter, compared to the consensus estimate of $219.39 million. Sabra Healthcare REIT had a net margin of 7.61% and a return on equity of 2.34%. The business's revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Equities analysts forecast that Sabra Healthcare REIT, Inc. will post 1.52 EPS for the current year.

Sabra Healthcare REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 5.8%. Sabra Healthcare REIT's dividend payout ratio is currently 461.54%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SBRA shares. Truist Financial boosted their target price on shares of Sabra Healthcare REIT from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Mizuho set a $21.00 price target on shares of Sabra Healthcare REIT in a report on Monday, August 31st. Raymond James Financial upgraded shares of Sabra Healthcare REIT from an "underperform" rating to a "market perform" rating in a research note on Thursday, August 6th. UBS Group set a $25.00 price objective on shares of Sabra Healthcare REIT in a report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Sabra Healthcare REIT in a research report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $22.17.

Insider Activity at Sabra Healthcare REIT

In related news, CEO Richard K. Matros sold 200,000 shares of Sabra Healthcare REIT stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $20.83, for a total transaction of $4,166,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,657,686 shares of the company's stock, valued at approximately $34,529,599.38. The trade was a 10.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.09% of the company's stock.

Sabra Healthcare REIT Profile

Sabra Healthcare REIT, Inc NASDAQ: SBRA is a real estate investment trust that acquires, owns and operates net‐lease healthcare properties. Its diversified portfolio spans senior housing communities, skilled nursing and rehabilitation centers, outpatient medical facilities, medical office buildings, hospitals and life science properties. Sabra structures long‐term, triple‐net lease agreements with healthcare operators, providing stable rental income streams while allowing tenants to focus on patient care and operational excellence.

Serving a broad spectrum of care segments, Sabra's tenants include both regional and national providers of assisted living, independent living, memory care, post‐acute rehabilitation and research and development laboratories.

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