State of New Jersey Common Pension Fund D Buys 36,243 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

State of New Jersey Common Pension Fund D boosted its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 11.8% in the fourth quarter, HoldingsChannel reports. The firm owned 343,349 shares of the real estate investment trust’s stock after acquiring an additional 36,243 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sabra Health Care REIT were worth $4,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Sabra Health Care REIT in the 4th quarter valued at $25,000. CWM LLC lifted its holdings in shares of Sabra Health Care REIT by 363.5% in the third quarter. CWM LLC now owns 1,780 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,396 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Sabra Health Care REIT in the 4th quarter worth $33,000. Signaturefd LLC grew its stake in shares of Sabra Health Care REIT by 45.2% in the 3rd quarter. Signaturefd LLC now owns 2,610 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 813 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Sabra Health Care REIT during the third quarter valued at about $48,000. 99.40% of the stock is owned by institutional investors and hedge funds.

Sabra Health Care REIT Trading Up 2.1 %

Sabra Health Care REIT stock traded up $0.29 during trading on Friday, reaching $13.94. 1,636,732 shares of the company were exchanged, compared to its average volume of 2,030,516. Sabra Health Care REIT, Inc. has a 52-week low of $10.30 and a 52-week high of $14.91. The company has a market capitalization of $3.23 billion, a P/E ratio of 278.80, a PEG ratio of 4.92 and a beta of 1.16. 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 stock’s 50 day simple moving average is $14.06 and its two-hundred day simple moving average is $14.04.

Sabra Health Care REIT Announces Dividend

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

Analysts Set New Price Targets

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

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.