Swiss National Bank has reduced its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 10.6% in the first quarter, according to its recent filing with the Securities and Exchange Commission (SEC). The bank sold 59,100 shares of the real estate investment trust’s stock, leaving it with a total of 498,541 shares. The value of these shares was estimated to be $5,733,000 at the end of the reporting period.
The move by Swiss National Bank is in line with other institutional investors and hedge funds who have also adjusted their holdings in Sabra Health Care REIT. For example, Mitsubishi UFJ Trust & Banking Corp increased its holdings by 7.0%, adding 1,891 shares to its existing 28,759. Bank of New York Mellon Corp also raised its stake by 14.1%, acquiring an additional 689,809 shares.
Financial analysts on Wall Street have weighed in on Sabra Health Care REIT, with the majority giving it a “Hold” rating. Stifel Nicolaus decreased their price objective on the stock from $15.00 to $14.00, while Berenberg Bank initiated coverage with a “Hold” rating and $13.00 price target.
Sabra Health Care REIT has a market cap of $2.84 billion and a beta of 1.30. The company’s stock currently trades around $12.28. It operates a portfolio of real estate properties, including skilled nursing/transitional care facilities, senior housing communities, behavioral health facilities, and specialty hospitals.
The company has recently declared a quarterly dividend of $0.30 per share, payable on August 31st to shareholders of record on August 17th. Sabra Health Care REIT’s dividend yield is 9.77% and its payout ratio is -222.22%.
Sources:
– SEC filing by Swiss National Bank
– MarketBeat analyst reports
– Sabra Health Care REIT official website