GAMMA Investing LLC Increases Holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

GAMMA Investing LLC raised its holdings in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 25.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,614 shares of the real estate investment trust’s stock after buying an additional 932 shares during the quarter. GAMMA Investing LLC’s holdings in Sabra Health Care REIT were worth $86,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB boosted its holdings in Sabra Health Care REIT by 58.6% in the third quarter. Handelsbanken Fonder AB now owns 77,706 shares of the real estate investment trust’s stock valued at $1,446,000 after purchasing an additional 28,700 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Sabra Health Care REIT in the 3rd quarter valued at $311,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sabra Health Care REIT in the 2nd quarter valued at $122,000. Cetera Investment Advisers raised its stake in Sabra Health Care REIT by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 414,052 shares of the real estate investment trust’s stock worth $6,376,000 after acquiring an additional 7,377 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Sabra Health Care REIT by 85.2% in the second quarter. Truist Financial Corp now owns 183,180 shares of the real estate investment trust’s stock valued at $2,821,000 after acquiring an additional 84,251 shares during the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial lifted their target price on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank raised their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.11.

Sabra Health Care REIT Stock Performance

Shares of SBRA opened at $18.18 on Tuesday. The stock has a market capitalization of $4.26 billion, a P/E ratio of 86.57, a P/E/G ratio of 2.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. Sabra Health Care REIT, Inc. has a 1 year low of $12.83 and a 1 year high of $19.32. The company’s fifty day moving average is $17.52 and its two-hundred day moving average is $15.75.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The firm had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, sell-side analysts predict that Sabra Health Care REIT, Inc. will post 1.38 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.60%. Sabra Health Care REIT’s dividend payout ratio is currently 571.43%.

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.