AGF Management Ltd. Buys 48,507 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

AGF Management Ltd. lifted its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 17.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,022 shares of the real estate investment trust’s stock after acquiring an additional 48,507 shares during the quarter. AGF Management Ltd. owned 0.14% of Sabra Health Care REIT worth $3,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Swiss National Bank grew its position in Sabra Health Care REIT by 0.9% during the second quarter. Swiss National Bank now owns 503,241 shares of the real estate investment trust’s stock valued at $5,923,000 after buying an additional 4,700 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Sabra Health Care REIT by 7.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,757 shares of the real estate investment trust’s stock valued at $1,315,000 after buying an additional 7,724 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Sabra Health Care REIT by 8.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 135,702 shares of the real estate investment trust’s stock valued at $1,597,000 after buying an additional 10,591 shares during the period. Essex Financial Services Inc. grew its position in Sabra Health Care REIT by 21.7% during the second quarter. Essex Financial Services Inc. now owns 26,955 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 4,810 shares during the period. Finally, Presima Securities ULC grew its position in Sabra Health Care REIT by 22.7% during the second quarter. Presima Securities ULC now owns 1,195,000 shares of the real estate investment trust’s stock valued at $14,065,000 after buying an additional 221,300 shares during the period. 86.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBRA has been the topic of several analyst reports. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $15.00 in a report on Monday, October 16th. Stifel Nicolaus lifted their price target on shares of Sabra Health Care REIT from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Jefferies Financial Group raised shares of Sabra Health Care REIT from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $15.00 in a report on Wednesday, September 20th. Berenberg Bank initiated coverage on shares of Sabra Health Care REIT in a report on Thursday, July 27th. They set a “hold” rating and a $13.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price target on shares of Sabra Health Care REIT in a report on Tuesday, October 17th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.59.

Sabra Health Care REIT Price Performance

SBRA stock opened at $14.47 on Thursday. Sabra Health Care REIT, Inc. has a one year low of $10.08 and a one year high of $14.82. The company’s fifty day moving average price is $13.87 and its 200-day moving average price is $12.64. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.57 and a current ratio of 3.57. The company has a market capitalization of $3.35 billion, a PE ratio of -37.10 and a beta of 1.24.

Sabra Health Care REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 17th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.29%. The ex-dividend date is Thursday, November 16th. Sabra Health Care REIT’s payout ratio is -307.69%.

Sabra Health Care REIT Profile

As of June 30, 2023, Sabra's investment portfolio included 392 real estate properties held for investment (consisting of (i) 253 Skilled Nursing/Transitional Care facilities, (ii) 45 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), 13 investments in loans receivable (consisting of two mortgage loans and 11 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.