Intech Investment Management LLC Acquires 25,983 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Intech Investment Management LLC grew its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 35.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,921 shares of the real estate investment trust’s stock after buying an additional 25,983 shares during the quarter. Intech Investment Management LLC’s holdings in Sabra Health Care REIT were worth $1,860,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Sabra Health Care REIT by 25.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 932 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Sabra Health Care REIT by 2.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,168 shares during the period. Assetmark Inc. grew its holdings in shares of Sabra Health Care REIT by 168.4% in the third quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,231 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Sabra Health Care REIT by 2.0% in the second quarter. Arizona State Retirement System now owns 64,802 shares of the real estate investment trust’s stock worth $998,000 after buying an additional 1,258 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Sabra Health Care REIT by 2.1% during the 2nd quarter. QRG Capital Management Inc. now owns 62,517 shares of the real estate investment trust’s stock valued at $963,000 after buying an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Analysts Set New Price Targets

SBRA has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Truist Financial raised their target price on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Scotiabank upped their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Finally, Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $20.00 in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Sabra Health Care REIT Price Performance

Shares of NASDAQ SBRA opened at $18.41 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. Sabra Health Care REIT, Inc. has a 1 year low of $12.83 and a 1 year high of $20.03. The company’s 50-day moving average is $18.64 and its 200 day moving average is $16.71. The stock has a market capitalization of $4.36 billion, a P/E ratio of 44.90, a P/E/G ratio of 2.30 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The firm had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $177.19 million. Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. During the same quarter last year, the company posted $0.34 EPS. On average, sell-side analysts expect that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is currently 292.69%.

About Sabra Health Care REIT

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.