Los Angeles Capital Management LLC Purchases 36,616 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Los Angeles Capital Management LLC increased its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 283.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,542 shares of the real estate investment trust's stock after buying an additional 36,616 shares during the period. Los Angeles Capital Management LLC's holdings in Sabra Health Care REIT were worth $922,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SBRA. State of New Jersey Common Pension Fund D boosted its holdings in Sabra Health Care REIT by 0.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 253,136 shares of the real estate investment trust's stock valued at $4,711,000 after acquiring an additional 2,245 shares during the last quarter. Atria Investments Inc boosted its position in Sabra Health Care REIT by 16.5% during the 3rd quarter. Atria Investments Inc now owns 31,663 shares of the real estate investment trust's stock worth $589,000 after purchasing an additional 4,474 shares during the period. Assetmark Inc. lifted its stake in shares of 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 purchasing an additional 1,231 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Sabra Health Care REIT by 0.8% in the third quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust's stock worth $401,479,000 after buying an additional 167,069 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Sabra Health Care REIT by 14.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 539,004 shares of the real estate investment trust's stock valued at $10,031,000 after buying an additional 66,929 shares during the period. Institutional investors and hedge funds own 99.40% of the company's stock.

Wall Street Analyst Weigh In

SBRA has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Citigroup upgraded Sabra Health Care REIT from a "neutral" rating to a "buy" rating and raised their price objective for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank increased 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. Finally, Truist Financial lifted their price target on shares of 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Sabra Health Care REIT presently has a consensus rating of "Moderate Buy" and an average target price of $18.71.

Sabra Health Care REIT Price Performance

SBRA traded up $0.24 on Friday, reaching $18.18. The company had a trading volume of 2,300,525 shares, compared to its average volume of 2,050,974. Sabra Health Care REIT, Inc. has a one year low of $12.83 and a one year high of $20.03. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average of $18.60 and a 200-day moving average of $16.54. The company has a market capitalization of $4.30 billion, a P/E ratio of 44.34, a PEG ratio of 2.35 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) 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 analyst estimates 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 period in the previous year, the business posted $0.34 EPS. As a group, equities research analysts anticipate that Sabra Health Care REIT, Inc. will post 1.39 earnings per share 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. This represents a $1.20 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date is Friday, November 15th. Sabra Health Care REIT's dividend payout ratio is presently 292.69%.

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.