State of New Jersey Common Pension Fund D Buys 2,245 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

State of New Jersey Common Pension Fund D increased its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 253,136 shares of the real estate investment trust’s stock after acquiring an additional 2,245 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sabra Health Care REIT were worth $4,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SBRA. Texas Permanent School Fund Corp lifted its position in shares of Sabra Health Care REIT by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 202,361 shares of the real estate investment trust’s stock worth $2,989,000 after buying an additional 2,706 shares during the period. SG Americas Securities LLC bought a new position in shares of Sabra Health Care REIT during the 1st quarter worth approximately $1,104,000. Sei Investments Co. lifted its position in shares of Sabra Health Care REIT by 1.4% during the 1st quarter. Sei Investments Co. now owns 109,558 shares of the real estate investment trust’s stock worth $1,618,000 after buying an additional 1,469 shares during the period. US Bancorp DE lifted its position in shares of Sabra Health Care REIT by 8.3% during the 1st quarter. US Bancorp DE now owns 22,412 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 1,713 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Sabra Health Care REIT by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 52,900 shares of the real estate investment trust’s stock worth $781,000 after buying an additional 2,393 shares during the period. Institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Stock Up 0.6 %

Shares of Sabra Health Care REIT stock opened at $19.67 on Tuesday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. Sabra Health Care REIT, Inc. has a 12 month low of $12.83 and a 12 month high of $19.79. The business has a fifty day simple moving average of $18.48 and a 200 day simple moving average of $16.44. The stock has a market cap of $4.65 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The company had revenue of $178.00 million for the quarter, compared to analyst estimates 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 period last year, the firm earned $0.34 earnings per share. Research analysts predict that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 6.10%. Sabra Health Care REIT’s dividend payout ratio is presently 292.69%.

Wall Street Analysts Forecast Growth

SBRA has been the subject of several research analyst reports. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Truist Financial lifted their price objective on 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 lifted their target price 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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Sabra Health Care REIT 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.