Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Short Interest Up 54.6% in August

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 13,650,000 shares, an increase of 54.6% from the August 15th total of 8,830,000 shares. Based on an average daily volume of 2,210,000 shares, the days-to-cover ratio is presently 6.2 days.

Sabra Health Care REIT Stock Performance

SBRA stock traded down $0.01 during mid-day trading on Friday, hitting $13.38. 4,434,639 shares of the company were exchanged, compared to its average volume of 2,437,191. The business has a 50 day simple moving average of $12.67 and a 200-day simple moving average of $11.82. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $3.09 billion, a PE ratio of -24.78 and a beta of 1.29. Sabra Health Care REIT has a 1-year low of $10.08 and a 1-year high of $14.32.

Sabra Health Care REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.20 annualized dividend and a yield of 8.97%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently -222.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SBRA shares. Citigroup raised their price target on Sabra Health Care REIT from $11.00 to $12.50 and gave the company a “neutral” rating in a research note on Friday, July 14th. Berenberg Bank initiated coverage on shares of Sabra Health Care REIT in a research note on Thursday, July 27th. They set a “hold” rating and a $13.00 price objective on the stock. StockNews.com initiated coverage on shares of Sabra Health Care REIT in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Bank of America upgraded shares of Sabra Health Care REIT from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $11.00 to $14.00 in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.94.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of institutional investors have recently modified their holdings of SBRA. Chilton Capital Management LLC bought a new stake in shares of Sabra Health Care REIT in the first quarter valued at about $26,000. Newbridge Financial Services Group Inc. increased its stake in Sabra Health Care REIT by 64.9% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 2,308 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 908 shares during the period. Point72 Hong Kong Ltd bought a new position in Sabra Health Care REIT during the 2nd quarter worth $31,000. Worth Asset Management LLC bought a new stake in shares of Sabra Health Care REIT during the 1st quarter valued at $44,000. Finally, Money Concepts Capital Corp acquired a new stake in shares of Sabra Health Care REIT during the 4th quarter worth $44,000. Institutional investors own 86.36% of the company’s stock.

About Sabra Health Care REIT

As of June 30, 2023, Sabra's investment portfolio included 392 real estate properties held for investment (consisting of (i) 253 Skilled Nursing/Transitional Care facilities, (ii) 45 senior housing communities (Senior Housing Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 13 investments in loans receivable (consisting of two mortgage loans and 11 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.