Sabra Health Care REIT Inc (NASDAQ:SBRA) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 5,500,509 shares, a decrease of 19.5% from the February 15th total of 6,829,962 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily volume of 2,357,929 shares, the short-interest ratio is presently 2.3 days.
A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Sabra Health Care REIT by 13.8% in the fourth quarter. Geode Capital Management LLC now owns 2,134,155 shares of the real estate investment trust’s stock worth $35,170,000 after acquiring an additional 258,266 shares in the last quarter. Norges Bank purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter worth approximately $35,964,000. Nordea Investment Management AB purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter worth approximately $8,795,000. Corundum Group Inc. purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter worth approximately $185,000. Finally, PFG Advisors purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 85.78% of the company’s stock.
Several equities research analysts recently commented on SBRA shares. Zacks Investment Research upgraded Sabra Health Care REIT from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Thursday, February 21st. SunTrust Banks lowered Sabra Health Care REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. BidaskClub upgraded Sabra Health Care REIT from a “sell” rating to a “hold” rating in a report on Saturday, December 8th. BMO Capital Markets reiterated a “hold” rating and issued a $17.00 price target on shares of Sabra Health Care REIT in a report on Monday, January 14th. Finally, ValuEngine upgraded Sabra Health Care REIT from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $21.10.
Shares of NASDAQ:SBRA opened at $18.38 on Friday. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 2.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.83 and a current ratio of 1.83. Sabra Health Care REIT has a 52-week low of $15.70 and a 52-week high of $23.83.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $1.80 annualized dividend and a yield of 9.79%.
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Sabra Health Care REIT Company Profile
As of September 30, 2018, Sabra's investment portfolio included 487 real estate properties held for investment (consisting of (i) 350 Skilled Nursing/Transitional Care facilities, (ii) 91 Senior Housing communities (Senior Housing – Leased), (iii) 24 Senior Housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed) and (iv) 22 Specialty Hospitals and Other facilities), one investment in a direct financing lease, 22 investments in loans receivable (consisting of (i) one mortgage loan, (ii) two construction loans, (iii) one mezzanine loan, (iv) one pre-development loan and (v) 17 other loans), 11 preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.
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