Intech Investment Management LLC Increases Stock Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Intech Investment Management LLC increased its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 35.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,921 shares of the real estate investment trust’s stock after purchasing an additional 25,983 shares during the quarter. Intech Investment Management LLC’s holdings in Sabra Health Care REIT were worth $1,860,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBRA. GAMMA Investing LLC lifted its position in shares of 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 worth $86,000 after buying an additional 932 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position 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 acquiring an additional 1,168 shares during the last quarter. Assetmark Inc. lifted its holdings in Sabra Health Care REIT by 168.4% during the third quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 1,231 shares during the period. Arizona State Retirement System boosted its position in 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 purchasing an additional 1,258 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in Sabra Health Care REIT by 2.1% in 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 purchasing an additional 1,266 shares during the period. 99.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Sabra Health Care REIT Stock Performance

NASDAQ SBRA opened at $18.41 on Monday. The firm has a market cap of $4.36 billion, a P/E ratio of 44.90, a price-to-earnings-growth ratio of 2.30 and a beta of 1.25. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $18.64 and its 200-day moving average is $16.71. Sabra Health Care REIT, Inc. has a 12-month low of $12.83 and a 12-month high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.22). The company had revenue of $178.00 million during the quarter, compared to analysts’ expectations of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same quarter last year, the firm posted $0.34 earnings per share. Sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT’s payout ratio is 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.