Sabra Health Care REIT, Inc. (NASDAQ:SBRA – Get Rating) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 10,270,000 shares, a decline of 14.2% from the April 30th total of 11,970,000 shares. Based on an average trading volume of 2,140,000 shares, the short-interest ratio is presently 4.8 days.
Sabra Health Care REIT Stock Up 0.3 %
Sabra Health Care REIT stock opened at $10.51 on Monday. The company has a fifty day simple moving average of $11.15 and a 200 day simple moving average of $12.11. Sabra Health Care REIT has a 1-year low of $10.08 and a 1-year high of $16.60. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.81. The company has a market cap of $2.43 billion, a P/E ratio of -18.77 and a beta of 1.31.
Sabra Health Care REIT Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 11.42%. Sabra Health Care REIT’s dividend payout ratio is currently -214.28%.
Hedge Funds Weigh In On Sabra Health Care REIT
Several institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its stake in shares of Sabra Health Care REIT by 29.5% in the fourth quarter. Deutsche Bank AG now owns 11,354,105 shares of the real estate investment trust’s stock valued at $141,132,000 after acquiring an additional 2,588,678 shares in the last quarter. Norges Bank acquired a new position in shares of Sabra Health Care REIT during the 4th quarter worth approximately $26,809,000. Balyasny Asset Management LLC increased its holdings in shares of 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 worth $28,030,000 after purchasing an additional 2,102,666 shares during the period. State Street Corp raised its position in shares of Sabra Health Care REIT by 18.1% in 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 buying an additional 1,840,939 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its stake in shares of Sabra Health Care REIT by 355.0% in the first quarter. Advisors Capital Management LLC now owns 1,757,929 shares of the real estate investment trust’s stock valued at $20,216,000 after buying an additional 1,371,592 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SBRA. Credit Suisse Group restated a “neutral” rating and issued a $13.00 price target on shares of Sabra Health Care REIT in a research report on Wednesday, April 12th. Barclays decreased their target price on Sabra Health Care REIT from $15.00 to $13.00 in a research report on Tuesday, April 25th. Citigroup cut their price target on shares of Sabra Health Care REIT from $13.00 to $10.50 and set a “neutral” rating on the stock in a research report on Tuesday, March 28th. Stifel Nicolaus lowered their target price on shares of Sabra Health Care REIT from $15.00 to $14.00 in a research note on Thursday, May 4th. Finally, Wells Fargo & Company assumed coverage on shares of Sabra Health Care REIT in a research report on Wednesday, April 19th. They set an “underweight” rating and a $11.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.00.
Sabra Health Care REIT Company Profile
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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 Irvine, CA.
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