California Public Employees Retirement System Sells 31,962 Shares of Sabra Health Care REIT Inc (SBRA)

California Public Employees Retirement System cut its holdings in shares of Sabra Health Care REIT Inc (NASDAQ:SBRA) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,905 shares of the real estate investment trust’s stock after selling 31,962 shares during the period. California Public Employees Retirement System owned about 0.17% of Sabra Health Care REIT worth $6,626,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital Fund Management S.A. acquired a new stake in Sabra Health Care REIT during the 2nd quarter worth approximately $2,169,000. OppenheimerFunds Inc. boosted its position in Sabra Health Care REIT by 112.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 68,422 shares of the real estate investment trust’s stock worth $1,487,000 after buying an additional 36,144 shares during the period. Price Capital Management Inc. acquired a new stake in Sabra Health Care REIT during the 2nd quarter worth approximately $756,000. Bank of New York Mellon Corp boosted its position in Sabra Health Care REIT by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,663,709 shares of the real estate investment trust’s stock worth $57,881,000 after buying an additional 12,607 shares during the period. Finally, Standard Life Aberdeen plc acquired a new stake in Sabra Health Care REIT during the 2nd quarter worth approximately $507,000. Institutional investors and hedge funds own 90.40% of the company’s stock.

Sabra Health Care REIT stock opened at $21.19 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.16 and a quick ratio of 3.16. Sabra Health Care REIT Inc has a 52-week low of $15.77 and a 52-week high of $23.83. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 2.74 and a beta of 0.62.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.75. Sabra Health Care REIT had a net margin of 62.60% and a return on equity of 11.21%. The firm had revenue of $166.31 million during the quarter, compared to analyst estimates of $166.62 million. Analysts forecast that Sabra Health Care REIT Inc will post 2.47 earnings per share for the current year.

SBRA has been the topic of several recent research reports. Jefferies Financial Group reiterated a “$21.91” rating and set a $22.00 target price on shares of Sabra Health Care REIT in a research report on Wednesday, July 18th. Raymond James lifted their target price on shares of Sabra Health Care REIT from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. Mizuho restated a “buy” rating and set a $26.00 price target on shares of Sabra Health Care REIT in a report on Monday, August 13th. Zacks Investment Research upgraded shares of Sabra Health Care REIT from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, July 11th. Finally, BidaskClub lowered shares of Sabra Health Care REIT from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.73.

About Sabra Health Care REIT

As of June 30, 2018, Sabra's investment portfolio included 487 real estate properties held for investment (consisting of (i) 352 Skilled Nursing/Transitional Care facilities, (ii) 89 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 asset held for sale, 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), 13 preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.

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Institutional Ownership by Quarter for Sabra Health Care REIT (NASDAQ:SBRA)

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