Principal Financial Group Inc. cut its stake in shares of Sabra Healthcare REIT Inc. (NASDAQ:SBRA) by 8.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,003,097 shares of the company’s stock after selling 97,789 shares during the period. Principal Financial Group Inc. owned 1.54% of Sabra Healthcare REIT worth $20,699,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of SBRA. Norges Bank acquired a new stake in Sabra Healthcare REIT during the fourth quarter valued at approximately $12,022,000. JPMorgan Chase & Co. boosted its stake in Sabra Healthcare REIT by 74.2% in the second quarter. JPMorgan Chase & Co. now owns 664,139 shares of the company’s stock valued at $13,705,000 after buying an additional 282,887 shares in the last quarter. Systematic Financial Management LP acquired a new stake in Sabra Healthcare REIT during the second quarter valued at approximately $4,343,000. Opus Capital Group LLC acquired a new stake in Sabra Healthcare REIT during the second quarter valued at approximately $3,726,000. Finally, Copeland Capital Management LLC boosted its stake in Sabra Healthcare REIT by 39.7% in the second quarter. Copeland Capital Management LLC now owns 584,325 shares of the company’s stock valued at $12,058,000 after buying an additional 165,973 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.
Shares of Sabra Healthcare REIT Inc. (NASDAQ:SBRA) opened at 25.18 on Friday. Sabra Healthcare REIT Inc. has a 52-week low of $14.92 and a 52-week high of $26.40. The stock has a market cap of $1.64 billion, a P/E ratio of 30.08 and a beta of 1.20. The firm’s 50-day moving average price is $24.70 and its 200-day moving average price is $22.19.
Sabra Healthcare REIT (NASDAQ:SBRA) last posted its earnings results on Monday, August 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Sabra Healthcare REIT had a net margin of 24.63% and a return on equity of 6.27%. The company earned $74.20 million during the quarter, compared to analysts’ expectations of $56.04 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. Sabra Healthcare REIT’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, equities research analysts forecast that Sabra Healthcare REIT Inc. will post $2.28 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on SBRA shares. Zacks Investment Research cut Sabra Healthcare REIT from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Sabra Healthcare REIT in a report on Friday, September 9th. Citigroup Inc. lifted their price objective on Sabra Healthcare REIT from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, August 17th. BTIG Research started coverage on Sabra Healthcare REIT in a report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, JMP Securities reaffirmed a “hold” rating on shares of Sabra Healthcare REIT in a report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.18.
Sabra Healthcare REIT Company Profile
Sabra Health Care REIT, Inc is a real estate investment trust. The Company owns and invests in real estate serving the healthcare industry. The Company’s segment is investments in healthcare-related real estate properties. Its primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector.
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