Allstate Corp Has $2.03 Million Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Allstate Corp lessened its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 116,907 shares of the real estate investment trust’s stock after selling 3,485 shares during the quarter. Allstate Corp’s holdings in Sabra Health Care REIT were worth $2,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pictet Asset Management Holding SA boosted its position in Sabra Health Care REIT by 6.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 76,452 shares of the real estate investment trust’s stock worth $1,324,000 after acquiring an additional 4,804 shares during the period. Duff & Phelps Investment Management Co. lifted its position in shares of Sabra Health Care REIT by 16.3% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,539,749 shares of the real estate investment trust’s stock worth $43,988,000 after purchasing an additional 356,030 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Sabra Health Care REIT during the fourth quarter worth approximately $674,000. Norges Bank purchased a new position in Sabra Health Care REIT during the fourth quarter valued at approximately $48,950,000. Finally, Caisse Des Depots ET Consignations acquired a new position in Sabra Health Care REIT in the 4th quarter valued at approximately $578,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SBRA shares. JMP Securities upgraded shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Tuesday, January 7th. Mizuho restated a “neutral” rating and issued a $20.00 target price on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Citizens Jmp raised Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Truist Financial boosted their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Sabra Health Care REIT Stock Performance

SBRA opened at $17.54 on Friday. The stock has a 50-day moving average of $16.83 and a 200-day moving average of $17.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.16 and a current ratio of 4.32. Sabra Health Care REIT, Inc. has a 52-week low of $13.31 and a 52-week high of $20.03. The company has a market cap of $4.17 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.27.

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

Sabra Health Care REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend was Friday, February 14th. Sabra Health Care REIT’s dividend payout ratio is 226.42%.

Sabra Health Care REIT Profile

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.