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

State of New Jersey Common Pension Fund D raised its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 343,349 shares of the real estate investment trust’s stock after purchasing an additional 36,243 shares during the period. State of New Jersey Common Pension Fund D owned about 0.15% of Sabra Health Care REIT worth $4,900,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in Sabra Health Care REIT by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 21,003,193 shares of the real estate investment trust’s stock worth $292,783,000 after purchasing an additional 313,517 shares in the last quarter. JPMorgan Chase & Co. increased its position in Sabra Health Care REIT by 709.0% during the third quarter. JPMorgan Chase & Co. now owns 13,504,420 shares of the real estate investment trust’s stock worth $188,252,000 after buying an additional 11,835,109 shares in the last quarter. LSV Asset Management increased its position in Sabra Health Care REIT by 0.9% during the third quarter. LSV Asset Management now owns 4,278,349 shares of the real estate investment trust’s stock worth $59,640,000 after buying an additional 37,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Sabra Health Care REIT by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,096,283 shares of the real estate investment trust’s stock worth $57,102,000 after buying an additional 116,444 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Sabra Health Care REIT by 8.6% during the third quarter. Northern Trust Corp now owns 3,348,859 shares of the real estate investment trust’s stock worth $46,683,000 after purchasing an additional 264,569 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

Sabra Health Care REIT Trading Up 2.1 %

SBRA traded up $0.29 during mid-day trading on Friday, hitting $13.94. The stock had a trading volume of 1,636,732 shares, compared to its average volume of 2,030,516. The stock’s fifty day simple moving average is $14.06 and its 200-day simple moving average is $14.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.41 and a quick ratio of 3.41. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 278.80, a price-to-earnings-growth ratio of 4.92 and a beta of 1.16. Sabra Health Care REIT, Inc. has a 1-year low of $10.30 and a 1-year high of $14.91.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date was Monday, February 12th. Sabra Health Care REIT’s payout ratio is 2,400.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $17.00 target price on shares of Sabra Health Care REIT in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft initiated coverage on Sabra Health Care REIT in a report on Tuesday, January 30th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Mizuho lifted their target price on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.77.

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.