AQR Capital Management LLC Acquires 230,073 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

AQR Capital Management LLC lifted its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 111.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 435,767 shares of the real estate investment trust’s stock after acquiring an additional 230,073 shares during the period. AQR Capital Management LLC owned approximately 0.19% of Sabra Health Care REIT worth $6,626,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBRA. Point72 Asset Management L.P. lifted its holdings in shares of Sabra Health Care REIT by 152.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust’s stock worth $26,677,000 after acquiring an additional 1,046,748 shares during the period. Vanguard Group Inc. increased its position in shares of Sabra Health Care REIT by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after purchasing an additional 838,654 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sabra Health Care REIT by 77.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust’s stock worth $19,824,000 after purchasing an additional 559,800 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its position in shares of Sabra Health Care REIT by 461.0% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 563,844 shares of the real estate investment trust’s stock worth $8,683,000 after purchasing an additional 463,344 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Sabra Health Care REIT during the 2nd quarter worth about $2,843,000. 99.40% of the stock is owned by institutional investors.

Sabra Health Care REIT Stock Down 1.0 %

Shares of NASDAQ:SBRA opened at $18.23 on Friday. Sabra Health Care REIT, Inc. has a one year low of $12.83 and a one year high of $19.32. The company has a 50 day moving average of $17.25 and a 200-day moving average of $15.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 91.15, a P/E/G ratio of 2.65 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The business had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Sabra Health Care REIT, Inc. will post 1.38 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s dividend payout ratio is 600.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial increased their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Finally, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $20.00 in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.80.

Sabra Health Care REIT Company Profile

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 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), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.